The document discusses modern challenges in managing the application lifecycle and delivering high quality applications on time and on budget. It argues that restoring core delivery fundamentals like requirements management, testing, and traceability across integrated teams can help address issues like low productivity and defects found by customers. The document presents a maturity model for improving application lifecycle management and achieving a more integrated view of the complete lifecycle from planning to retirement. It promotes HP's software suite as providing lifecycle management and automation, technology agnosticism, and scalability to help organizations achieve a more mature level of application delivery.