This development methodology helps improve the development process by reducing risk and increasing the time to market thus reducing prices. However use of predesigned components may lead to a compromise in requirements. Another disadvantage is the reliability on an external party for support. This may create issue if immediate escalation is needed in case of time sensitive business requirements.
Advantages
1. Reduction in development time
2. Increase productivity
3. Reduced risk as pre tested components are used
4. Confirmation with Standards
5. Improved product quality
6. Shorter time to market.
7. Components may become obsolete. If the 3rd party decides to discontinue the product, no support remains in case some problem occurs in development.
8. They can be used when no in house expertise is available on a particular technology
Disadvantages
1. Compromise in requirements
2. Reliability of components and sensitivity to change
3. Problems customizing component to product use
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