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The use of highly iterative software development methodologies, such as Agile and Lean, have been growing. However, these methodologies do not explicitly provide practices for managing and measuring software quality. This deficiency may prevent software development organizations in critical domains from transforming from traditional development to highly iterative development. These organizations may need to manage quality during development and may desire to compare with the quality of a large number of products produced in the past. In this paper, we focus on the reliability aspects of software quality and discuss the applicability of conventional reliability metrics to iterative development. First, we defined the general process structure in iterative development. Then, we present an associated quality evaluation scheme closely. Our experimental results indicate that traditional quality metrics were applicable to iterative development and that the iterative development achieved maturity sufficient for the commercial release.