The document discusses object oriented analysis and design using the iterative development approach. It describes the iterative development process, which involves short, fixed-length iterations to incrementally develop a software system. Each iteration includes requirements analysis, design, implementation, and testing activities. The Rational Unified Process (RUP) framework is discussed as an example of an iterative development methodology. RUP includes phases like inception, elaboration, construction, and transition with iterations conducted within each phase. The benefits of the iterative approach over the traditional sequential waterfall model are highlighted.