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Software Development Life Cycle (SDLC)
SDLC is a process of developing software's through investigations, analysis, design, implementation and maintenance. It's an approach to problem solving and is made up of several phases, each comprised of multiple steps. The relationship of each stage to other can be roughly described as a waterfall, where the output from a specific stage serves as an initial input for the next stage. During each stage, additional information is gathered or developed, combined with the inputs and used to produce the stage deliverables. Each phase of the SDLC creates a tangible product or deliverable. An important component of the SDLC is that at each phase, a conscious decision is made to continue development of the project, or to drop it. In the past, projects developed without the guidance of the SDLC were continued well after 'common sense' dictated that it made no sense to proceed further. The deliverables act as milestones against which we can judge the progress and continuing viability of the project.
You might be inclined to skip portions of what the SDLC calls for, but remember that the value of the process is that it forces you to follow a standardized methodology for developing programs and systems. Skipping parts of the SDLC can be a big mistake, whereas adhering to it ensures that you give the project the greatest chance for success.

We at Bhanguz focus on these phases so as to provide the best solution available and satisfy the customer / client demands through a phased manner.
Here is an overview for each of the phase:
Requirements:
The Preliminary Investigation Phase may begin with a phone call from a customer, a memorandum from a Vice President to the director of Systems Development, a letter from a customer to discuss a perceived problem or deficiency, or a request for something new in an existing system. The purpose of the Preliminary Investigation is not to develop a system, but to verify that a problem or deficiency really exists, or to pass judgment on the new requirement. This phase is typically very short, usually not more than a day or two for a big project, and in some instances it can be as little as two hours! The end result, or deliverable, from the Preliminary Investigation phase is either a willingness to proceed further, or the decision to 'call it quits'. There are three factors, typically called constraints, which result in a 'go' or 'no-go' decision:
Technical. The project can't be completed with the technology currently in existence. This constraint is typified by Leonardo da Vinci's inability to build a helicopter even though he is credited with designing one in the 16th century. Technological constraints made the construction of the helicopter impossible.
Time. The project can be completed, but not in time to satisfy the user's requirements. This is a frequent reason for the abandonment of the project after the Preliminary Investigation phase.
Budgetary. The project can be completed, and completed on time to satisfy the user's requirements, but the cost is prohibitive. It could be an individual constraint, or any combination of the three that prevents a project from being developed any further.
This at Bhanguz is done at Phase 1 and step 1 i.e. Sales and Customer Input (A team consisting of MBA professionals). When this is done, an analysis is carried to find out the customer needs (step 2 phase 1).