Edited -- The iterative process is the practice of building, refining, and improving a project, product, or initiative. Teams that use the iterative development process create, test, and revise until they’re satisfied with the end result. You can think of an iterative process as a trial-and-error methodology that brings your project closer to its end goal. 

Iterative processes are a fundamental part of lean methodologies and Agile project management—but these processes can be implemented by any team, not just Agile ones. During the iterative process, you will continually improve your design, product, or project until you and your team are satisfied with the final project deliverable.