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The purpose of this paper is to advance a dynamic programming model that encompasses critical attributes of plan‐driven development, rapid development, agile development, and the hybrid open source development. The paper aims to put forward a middle ground management strategy for software development to gain more effectiveness and efficiency in delivering projects on time and within budget.

The paper combines narrative with argument and analysis with a dynamic programming model. The model was applied to numerical cases with different project operating costs, duration, expected setup costs for a development iteration, and business penalties for a failed iteration. Sensitivity analysis is performed by changing several parameters and observing the effects these changes have on the optimal solution.

The model delivers a middle ground management strategy for software development and obtains an optimal solution that is better than if a project used one specific development methodology.

The paper demonstrates how the dynamic programming model when used with middle ground management strategy would produce the ultimate goal of delivering projects on time and within budget.