A construction project for a new hospital has strict regulatory requirements, detailed architectural plans, and a fixed completion date. However, the medical equipment selection and interior design elements can evolve based on staff feedback during construction. Which project approach is MOST appropriate?

Predictive approach because the regulatory requirements and fixed date require traditional planning

Agile approach because the evolving requirements for equipment and design need iterative delivery

Hybrid approach with predictive planning for construction and adaptive elements for equipment/design decisions

Iterative approach with multiple cycles allowing continuous refinement of all project aspects