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What competitive advantage will you gain by establishing SDLC and following rigid processes and procedures? List your response in bulleted format and provide details for each.

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Studies indicate that most software projects fail. The Standish group [1] reports that over 80% of projects are unsuccessful either because they are over budget, late, missing function, or a combination. Moreover, 30% of software projects are so poorly executed that they are canceled before completion. Software development methodologies are created to ease the software development processes.

The software development life cycle (SDLC) is the process of formal, logical steps taken to develop a software product. The phases of SDLC generally include the following:
1) Identification of required software
2) Analysis of the software requirements
3) Detailed specification of the software requirements
4) Software design
5) Programming
6) Testing
7) Maintenance

There are several methodologies or ...