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Iterative vs. Fixed-priced Projects

For those of you familiar with a traditional project management process, you’re probably familiar with a usual project life cycle- plan, budget, design, develop, test and release, A.K.A. waterfall. This style of management can typically be found in fixed-price projects. You may be less familiar with the percentage of projects that utilize this management process, yet fail to stay within the project’s intended time line, budget and scope. According to the “Chaos Report”, a project management research study on software development companies: ...35 percent of software projects started in 2006 can be categorized as successful, meaning they were completed on time, on budget and met user requirements. This is a marked improvement from the first, groundbreaking report in 1994 that labeled...