The present invention relates generally to a comprehensive, integrated computer-based process and method for undertaking an engineering design and development effort in a virtual collaborative environment by facilitating communication of specifications for parts and assemblies for review and approval. Specifications for the fabrication of parts may be presented and reviewed by the user. By accepting or validating the specifications, the user may apply his/her digital signature, thereby confirming an understanding of the specifications and, according to an embodiment of the invention, creating a binding contract.