This document discusses software process models and their characteristics. It describes the waterfall model, modified waterfall model, evolutionary models including prototyping and incremental development. The spiral model is also explained as it couples iterative prototyping with controlled sequential development. The models are compared in terms of their advantages like manageability and accommodating changes, and disadvantages such as inability to adapt to iterations or changes in later stages. Key activities in a software process like requirements, development, validation and evolution are outlined.