Which management approach is characterized by iterative phases in software project execution?

The management approach characterized by iterative phases in software project execution is Agile Software Development. Agile focuses on breaking down a project into smaller, manageable units known as iterations or sprints. This allows teams to develop software incrementally and adaptively, with regular feedback and collaboration from stakeholders.

In Agile, each iteration typically involves a full cycle of planning, executing, testing, and reviewing, enabling teams to respond to changing requirements and improve the product continuously. The emphasis on flexibility and customer involvement distinguishes Agile from more traditional approaches, which may not accommodate changes as readily throughout the development process. This adaptability is essential in software development environments where user requirements can evolve rapidly.

Waterfall methodology, in contrast, follows a linear and sequential process without returning to earlier phases after completion, making it less iterative. PRINCE2 methodology is a structured project management approach, but it is not specifically tailored to software development or characterized by iterative processes. Lean management focuses on optimizing efficiency and minimizing waste, rather than on the iterative nature of project execution like Agile does.