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I have read the paper multiple times over the years.

The quote "is risky and invites failure" is correct. However, another quote, even on the very same page:

"However, I believe the illustrated approach to be fundamentally sound. The remainder of this discussion presents five additional features that must be added to this basic approach to eliminate most of the development risks."

These suggestions are to 1) Add an additional (preliminary) design phase, after requirement analysis. 2) Much greater documentation. 3) Perform the entire sequential process twice (not x amount of iterations, just two times). 4) Additional activities and documentation during testing phase. 5) Involving the customer.

His diagrams require close scrutiny, as on first inspection it seems the process is markedly different, when it is really not. It is still an entirely sequential waterfall process, just with an extra phase (preliminary design).



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