The document discusses different software development life cycle (SDLC) models including waterfall, iterative, spiral, and V-model. It provides an overview of each model, describing their key characteristics and phases. Pros and cons are outlined for each model. The waterfall model follows sequential phases from concept to maintenance. The iterative model develops the software incrementally in cycles. The spiral model similarly progresses iteratively but with a risk management focus. The V-model incorporates testing activities parallel to development phases. The document notes agile models are now commonly used in industry.