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Have only two stages with no staging. Prod environment is at oldest OS and database version, both at least 2 majors behind so development is a challenge. No luxury of a staging environment so have to make do. Staging though has immense benefits, the major one being catching bugs before they can do real damage.

Once a system is mature and most developers have left, 3 stages would be as many as would be required. Ay more will just add unnecessary complication.