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In general, the iterative development model allows for early adjustments to the product during development, rather than finding the problem once it is too late and having to spend a lot of time and money trying to incorporate the changes into the project. You are provided the chance to see the potential outcomes of every stage and make changes to areas of concern if necessary. This is one of the reasons that make the iterative model useful.

The corrective actions in the iterative development model are normally done at every interval; they are highly accurate and specific this is because if there is a fault in the requirements or design stage than it can hopefully be found sooner rather than later. These corrective measures are also effective as they reflect the outcome of the specific stage of the project. Iterative development is more adjustable to changes as it considers each stage like a vital portion of the development cycle.

The time spent on each successive interval may be lessened depending on how the last stage went and what knowledge was gained from past stages. The system therefore grows through adding new functionalities in the development part of all iterations. Furthermore, since all iterations tackle a small requirement set, time is lessened as the testing evolves.

Disadvantages

When using the iterative model people working on the project can get stuck in a loop. Always finding problems than having to go back and design a fix, implement it, than test the system again and finding another problem can mean that the project can run over time and budget.

The user community needs to be actively involved throughout the project. If users of the project are not involved with the development of the project than there is more of a chance that they will be reluctant to use the system once it is completed. While this involvement is a positive for the project, it is demanding on the time of the staff and can add project delay, which can make the project run over time and possibly budget. Informal requests for improvement after each phase may lead to confusion and may also create scope creep, since user feedback following each phase may lead to increased customer demands. As users see the system develop, they may realize the potential of other system capabilities which would enhance their work, this can be an advantage as much as it can be a disadvantage.

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Q: What are the advantages and disadvantages of product assessment?
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