First system is throw away system

Throwaway or Rapid Prototyping refers to the creation of a model that will eventually
be discarded rather than becoming part of the final delivered software. After
preliminary requirements gathering is accomplished, a simple working model of the
system is constructed to visually show the users what their requirements may look
like when they are implemented into a finished system.

Various Rapid prototyping techniques

i. Dynamic high level language development.

ii. Database programming.

iii. Component and application assembly.

There are many advantages to using prototyping in software development – some
tangible, some abstract.

Reduced time and costs:
            Prototyping can improve the quality of requirements and specifications provided to developers. Because changes cost exponentially more to implement as they are detected later in development, the early determination of what the user really wants can result in faster and less expensive software.

Improved and increased user involvement:
            Prototyping requires user involvement and allows them to see and interact with a prototype allowing them to provide better and more complete feedback and specifications

Disadvantages:

Insufficient analysis:
            The focus on a limited prototype can distract developers from properly analyzing the complete project. This can lead to overlooking better solutions, preparation of incomplete specifications or the conversion of limited prototypes into poorly engineered final projects that are hard to maintain.

User confusion of prototype and finished system:
            Users can begin to think that a prototype, intended to be thrown away, is actually a final system that merely needs to be finished or polished.

Developer misunderstanding of user objectives:
            Developers may assume that users share their objectives (e.g. to deliver core functionality on time and within budget), without understanding wider commercial issues.

Excessive development time of the prototype:

            A key property to prototyping is the fact that it is supposed to be done quickly. If the developers lose sight of this fact, they very well may try to develop a prototype that is too complex.

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