The document discusses different software development life cycle (SDLC) models: waterfall model, iterative model, and spiral model. It provides details on each model type, including their process steps, merits, demerits, and when each is best used. The waterfall model follows sequential phases of requirements, design, implementation, testing, and maintenance. The iterative model repeats the waterfall phases for incremental releases. The spiral model is risk-driven and iterative, with each loop consisting of planning, risk analysis, development, and evaluation.