A school intends to procure an integrated student management application holding all details of registered students including personal information, courses taken, and examination grades. The alternative approaches are:
1. Buy a database management system and use in-house staff to develop an application with the chosen DBMS
2. Buy a system created for another school and modify it to fit this school's specific requirements
3. Join a group of other schools, establish common requirements, and contract a software house to develop a single system for all of the schools
Identify two risks in each of these strategies and suggest techniques for risk resolution or reduction which would help in deciding which approach to adopt.