Hi, 

You can find  a KB article dedicated to upgrading and all the upgrade details here http://help.k2.com/kb002045 .

Note K2 4.6.11 cannot be upgraded to K2 Five. You will need to upgrade to K2 4.7 and then to K2 Five.

Regards

Kallie

Maybe you wanted a more detailed approach but at a high level this is how I would approach such an upgrade at this point in time.

First thing is to double check your rollback plans with the system and DB administrators to make sure you could rollback any enviornment (including Dev) if required in the upgrade fails.

I would recommend upgrading first to 4.7 in Dev and then fix all the form issues that will arise from orphaned rules and such. This could take a bit of time to fix so plan accordingly as you won't be able to promote form changes between environments until those things are fixed.  Then upgrade QC and after validation that your forms and workflows can deploy from Dev to QC and everything works correctly then update production to 4.7.

Give it a few weeks to make sure all is well.  Also Check with K2 local support to make sure there are no current K2 5 migration issues that would affect your environment.  In addition ensure that the K2 5 Designer will be able to meet your current workflow design requirements, especially if you used K2 Visual Studio or K2 Studio.  Right now K2 5 Workflow Designer is in some respects not feature parity with K2 Studio and K2 is working on bringing some of those key missing capabilities (e.g. missing inline IF function for example).  Note that if you're doing an upgrade from 4.7 you'll be able to continue using the old K2 Studio in K2 5 but you noted you want to rebuild your workflows.  Once satisfied then upgrade Dev to K2 5 ensuring you can roll back if required.

This is a cautious approach and will definitely take longer.  However, the upgrade from 4.6.11 to 4.7 was a big one for a lot of customers as it required a lot of form fixing, not just a simple update.  K2 5 is a bigger upgrade with lots of new prerequisites to take into account besides potential upgrade issues so I feel a careful approach is warranted.

Regards,

Tim