Concept : Project are imagined and prioritized.
Inception : Team members are created, funding is put in place, and basic environments and requirements are discussed.
Iteration/Constriction : The software development team works to deliver working software. It is based on requirement and feedback.
Release : Perform quality assurance (QA) testing, provides internal and external training, documentation development, and final version of iteration into the product.
Production : It is ongoing support of the software.