Life-cycle model
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Advantages:
well documented
works well for well understand problems
Disadvantage:
high risk of building the wrong system( because of late feedback from customer )
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Advantages:
frequent feedback from customer address the risk of building the wrong system
clear requirements up front for contracting
Disadvantage:
requirements still rigid, and could be wrong
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everything includes requirements is evolving
Advantage:
risk addressed through frequent feedback, including for requirements
Disadvantage:
build-and-fix danger
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waterfall + more detailed verification + validation structure
Advantages:
highly structured + well-documented development method
predominantly used in large projects
often involving hardware
automotive, railway, defense
Disadvantage:
same as waterfall