The document discusses the Waterfall model of project management, which outlines a linear sequential approach to software development through distinct phases such as requirement gathering, design, implementation, testing, and delivery. It contrasts this with the Agile methodology, highlighting Agile's iterative and incremental processes that allow for concurrent testing and flexibility in requirements changes. The Waterfall model, in contrast, requires that each phase is completed before moving to the next, with no opportunity to change requirements after the project has begun.