Iteration-1-Brain storming

Plan: Should include a description of all the planning activity that has taken place may include agendas or other manuscripts as appropriate. Plan should be about researching deeply about the four external pricing systems using internet, scheduling meetings with different professional in the field.

Action: Should include a description of that actual activity of what you planned above.

Observation: Should include a description of all the information collected as well as any analysis. Here you need to write about each external pricing system and explain what you understood about it.

Reflection: Should include a description of your thoughts about what happened, what went well, as well as not so well. If your iteration was a meeting, you may want to discuss the effectiveness of the meeting, did you have the best participants, did you miss any (not invite) or learned during the meeting you should have invited someone else...If so, what are your thoughts regarding mitigation etc.