In this document, we learn about the system development life cycle, and risk assessment Software Development Life Cycle (SDLC) is the application of standard business practices to building software applications. It’s typically divided into six to eight steps: Planning, Requirements, Design, Build, Document, Test, Deploy, and Maintain. Some project managers will combine, split, or omit steps, depending on the project’s scope. These are the core components recommended for all software development projects. There are different types of models (waterfall model, v-model, DSDM) we talk pros and cons of each model, risk assessment, challenges, and feasibility of each model.