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Approach Advantages Disadvantages Traditional Accepted within many organizations. With significant up front work, it's possible to develop accurate estimates and schedules. In practice, this approach results in significant wastage. Projects are often over budget and/or schedule anyway. Agile Stakeholders in complete control over how much money is spent, for how long, and on what. Currently not well accepted by senior management because it is different from their existing (and typically wrong) expectations. Requires a trustful relationship between IT and their business stakeholders. Requires the development team to work in a disciplined manner. Requires business stakeholders to be actively involved with the team and accountable for their decisions. Combination Possible to create a reasonable estimate and schedule without much effort Stakeholders in complete control over how much money is spent, for how long, and on what. Initial budget and schedule may not be perceived as sufficiently detailed. Requires business stakeholders to understand the realities of IT estimating. Requires a trustful relationship between IT and their business stakeholders. Requires the development team to work in a disciplined manner. Requires business stakeholders to be actively involved with the team and accountable for their decisions.

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