Rapid application development (RAD) aims to develop software quickly through a model with phases like business modeling, data modeling, process modeling, application generation, and testing. Business modeling defines information flow. Data modeling refines information into entities and attributes. Process modeling transforms data objects to support business functions. Automated tools help build the software. Testing reduces risk through component reuse and interface exercises. RAD requires tools like case tools, data dictionaries, storyboards, and risk registers. Advantages include quick reviews, isolation of problems, and flexibility, while disadvantages are lack of planning and need for skilled developers.