A company has received the contract to begin developing a new suite of software tools to
replace an aging collaboration solution. The original collaboration solution has been in
place for nine years, contains over a million lines of code, and took over two years to
develop originally. The SDLC has broken the primary delivery stages into eight different
deliverables, with each section requiring an in-depth risk analysis before moving on to the
next phase. Which of the following software development methods is MOST applicable?