This document discusses different project approaches and methodologies. It describes various process models including waterfall, V-model, evolutionary delivery, incremental delivery, agile, DSDM, and extreme programming. It provides pros and cons of each approach. The document also discusses factors to consider when selecting a methodology, such as risk, technology used, and project deliverables. Macro and micro processes are defined, and rules of thumb for selecting between approaches based on uncertainty, complexity, and schedule are outlined.