The ongoing discussion revolves around determining the most appropriate software development model to use for developing an information system for a new Non-Governmental Organization (NGO) called "Pears." Pears is a diverse organization comprising individuals with varying mindsets, including experienced professionals and new hires.

The challenge lies in addressing concerns about the cost and necessity of building an information system for a new NGO like Pears, especially given the conservative mindset of some team members who resist changes to traditional operations. The objective is to advocate for a modern approach that enhances operational efficiency through the implementation of a new information system.

Key topics of discussion include identifying the optimal software development life cycle models, comparing different life cycle approaches, and exploring methods to leverage the information system to improve services compared to other NGOs or similar organizations.

As a neutral new hire with knowledge of current methodologies, you have been tasked with preparing and presenting options relevant to Pears` specific needs and environment.

Your responsibilities include:

1. Studying various software development life cycles and presenting findings with detailed lecture notes.
2. Assessing the suitability of the waterfall model, a preferred choice among some colleagues, for a large-scale NGO development project, considering different versions of the model.
3. Describing and analyzing two iterative and two sequential software life cycle models, focusing on risk management strategies for each.
4. Developing a discussion, supported by an example, on why a specific life cycle model would be chosen for a particular development environment, providing detailed perspectives from both sides.

Your ultimate goal is to critically evaluate the applicability of the waterfall life cycle model to a large-scale NGO information system development project, considering the unique needs and challenges of organizations like Pears.