The document describes the waterfall model of software development. It consists of 5 sequential phases: 1) Requirement gathering and analysis, 2) Design, 3) Coding, 4) Testing, and 5) Maintenance. Each phase must be completed before moving to the next. The waterfall model provides structure, clear milestones, and is good for management control, but it does not allow for flexibility or iteration between phases. It is best used for projects with stable requirements that can be clearly defined upfront.