Hi, need to submit a 1500 words paper on the topic Quality Management Principles. &nbsp.On inquiry, several factors emerged – incomplete software, lack of adequate testing, high-risk implementation approach, improper assumptions made during specification, no communication with users and clients during development, to name a few (Finkelstein & Dowell 1996).London Stock Exchanges TAURUS project. The International Stock Exchanges TAURUS project, which was planned as a database of investors and their holdings, was abandoned in the early 1990s. Research shows several factors are responsible for this failure: improper cost-benefit analysis, no defined template, too many stakeholders with rival interests. The project was awarded to a US company which attempted to customize the software for UK requirements, and a package that would have cost £1 million amounted to £14 million (International Stock Exchange: TAURUS Project n.d.).Internationally recognized standard certifications such as ISO 9000 seek to eliminate differences in quality standards between nations. An international standard certification implies the adoption and usage of a highly sophisticated quality management system in the organization. New technologies are promoted and both process and product development are improved. Regular quality audits to ensure that all the processes are well defined, the right methods are adopted, and all the deliverables in product development are supplied. All these factors contribute to increased organizational efficiency, giving a competitive edge in the global market.Since the 1990s, Object-Oriented Software engineering has become the method of choice for information systems development (Pressman 2001). In this approach, the developers characterize the problem domain as a set of objects with specific attributes and behaviors. Operations manipulate these objects while messaging protocols allow interaction between the objects (Pressman 2001). As objects encapsulate both data and the applied&nbsp.processing, classes of objects can be built and libraries of classes and objects can be reused.&nbsp.