You are managing a complex software development project for an external customer. You are using the waterfall approach to manage the project in line with the contractual requirements. However, you are not comfortable with this approach. You believe that customers don't really know what they want upfront; rather, what they want emerges out of repeated two-way interactions over the course of the project. In your current situation, the waterfall approach has its emphasis on upfront requirements capture and design, followed by product development and finally the system testing. The customer will only be involved during the requirements gathering and system testing stages and will be completely out of touch during the development activities. Which of the following can help you mitigate the risk created by the waterfall approach:

Adopt an iterative life cycle.

Divide the project into multiple phases and organize phase gates.

Adopt an incremental life cycle.

Adopt a hybrid life cycle.