To deal with the complexity of today's engineering demands, leading universities intend to investigate educational advances and facilities to provide students a creative academic experience that integrates disciplinary knowledge and student transition to the world of the competitive job environment. By tackling a challenging design problem, the capstone project (CP) harnesses creative learning and transfer hands-on abilities into the industrial environment. Effective coaching on the understanding of course objectives aids both advisors and students to properly plan their tasks in CP design. Students and advisors must have a shared understanding of their roles and responsibilities, as well as the extent of independence anticipated from students. This study identifies specific areas in the capstone project that require direct advisor mentoring, aside with other areas in which students are anticipated to work independently, through a questionnaire survey consisting of 206 participants from both segments: advisors and final year engineering students. The survey results outline the discrepancies and consensus of perceptions amongst both segments, provide insights about current CP delivery, and highlight potential modifications that may be considered for improving the delivery of the capstone project where optimum levels of knowledge and skills are obtained by students. The results of this study serve as basis for guiding faculty members about finding the right balance of mentorship and students' independence, as students progress throughout different stages of their final year design capstone projects.