The assignment discusses the importance of proper project management and planning for the development of a complex software system like the Sydney Group Medical System. It highlights the need for clear requirements, efficient coding languages, and available resources. The Waterfall model is proposed as an effective approach to analyze requirements, design systems, implement, integrate, test, deploy, and maintain the software. Additionally, project management tools such as PERT and Gantt Charts are mentioned. A well-trained manager and a flexible project schedule are recommended for successful implementation.