The document discusses conventional software management and its challenges. It provides three key points:
1. Only 10% of software projects were delivered successfully on time and budget in the 1990s due to software development being unpredictable and management discipline being a bigger factor in success than technology.
2. The waterfall model was the conventional approach but had issues like late risk resolution, requirements-driven decomposition, and adversarial stakeholder relationships.
3. Modern practices from the 2000s onward used more repeatable processes, off-the-shelf tools, and commercial products for improved economics compared to custom approaches of the 1960-1990 period.