If I am not mistaken, the two strategies are described below:
The first strategy is to start a thorough analysis of the user requirements, after which the system is built according to these requirements. The second strategy starts with less complete requirement analysis phase, after which a pilot version is developed. This pilot version is installed in a few departments. Further development of the system is guided by the gained experience in working with the pilot version.
Pros of the first strategy:
The product will be developed according to the customer's requirements;
Every developer will understand what is needed.
Pros of the second approach:
Quick development;
All changes can be done during the process of development.
Cons of the first strategy:
The preparation for the development takes a lot of time;
It might be hard to implement changes.
Cons of the second approach:
The product may not suffice the customer's requirements for 100%;
Somebody in the team may not understand, and, thus, develop the product correctly.
I favor the second strategy because it is more flexible and with right guidance its pros and cons surpass the advantages and disadvantages of the first approach. The second theory reminds me of the Agile method of development, which has well recommended itself in many projects.
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