The preliminary investigation of a software project has been completed. Two different project teams have estimated the costs associated with the development and maintenance of a new system. One team based their estimates on the assumption that the waterfall system development process would be used for the project; the other team plans to follow the agile approach. A third option is to purchase off-the-shelf software that provides nearly all the benefits of a custom-built solution. Review the estimates below, and choose the best approach for the project: waterfall development, agile development, or off-the-shelf software implementation. Provide a solid rational for your choice. Identify any assumptions you must make in reaching your decision.?

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Total effort months to complete the system Cost per effort month Cost of software package Elapsed time until a partial working version is available (months) Elapsed time until all currently envisioned features are available (months) Annual savings generated by the complete system Waterfall 45 $10k Not applicable 8 $180k Agile 38 $10k 2 5 $180k Off-the-Shelf Software 6 $10k $350k Not applicable 3 $160k