de-sign

1. to prepare the preliminary sketch or the plans for (a work to be executed), especially to plan the form and structure of;

2. to plan and fashion artistically or skillfully; 

3. to intend for a definite purpose;

4. to form or conceive in mind; contrive; plan; 

5. to assign in thought or intention; purpose. 

In his book "the Design of Design" Frederick P. Brooks (author of "The Mythical Man-Month" see desiderata), describes the design process in the form of a computer program as follows:

Goal

Desiderata

Utility function

Constraints

Design tree of decisions

     UNTIL ("good enough") or (time runs out) 

       DO another design (to improve utility function) 

         UNTIL design is complete  

            WHILE design remains feasible

                make another design decision

            END WHILE

            Backtrack up design tree

            Explore a path not searched before

         END UNTIL

       END DO

       Take best design

    END UNTIL

Of course Brook's perspective is a tongue in cheek look at the realities that always seem to bring us down to earth (like constraints) and make us accept for solutions what may seem less than the best, or accepting of too many compromises because we either don't have more money to spend or because we have simply run out of time.

Excellence in design is borne out of this process followed repeatedly over time, and the understanding and intuition that comes from navigating the sometimes unappealing process of reconciling design objectives and aspirations with the realities that inevitably arise in opposition.