Iterative and incremental life cycles are ones in which project phases (also called iterations) intentionally repeat one or more project activities as the project team’s understanding of the product increases.
Iterations develop the product through a series of repeated cycles,while increments successively add to the functionality of the product.
These life cycles develop the product both iteratively and incrementally.
Iterative and incremental projects may proceed in phases, and the iterations themselves will be performed in a sequential or overlapping fashion.
During an iteration, activities from all Project Management Process Groups will be performed.
At the end of each iteration, a deliverable or set of deliverables will be completed.
Future iterations may enhance those deliverables or create new ones.
Each iteration incrementally builds the deliverables until the exit criteria for the phase are met, allowing the project team to incorporate feedback.