The document discusses the waterfall model as a software process model. It describes the waterfall model as having sequential steps of communication, planning, modeling, construction, and deployment. A variation called the V-model is also described which pairs verification and validation actions with earlier engineering actions. The advantages of the waterfall model include being a classic life cycle model and useful when requirements are fixed. Disadvantages include that real projects are rarely sequential and a working model is not available until late. Applications provided include building a car where requirements are predefined and stages are completed sequentially.