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Like many things, I think there's a spectrum. At one end, you've got a "just in time" system, where you wait until you've only got a few sheets of toilet paper left before you buy a new roll. At the other end, you've got people who keep a 5 year supply of emergency rations in a bunker....
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There are other projects which need managers, separate from development. E.g. if a company has a bunch of Windows 2016 servers which are approaching EOL (Jan 2027) so they need to migrate to a newer OS....
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