Business modelling - understanding the business environment.
Requirements - defining the requirements that the portion of the system must satisfy.
Analysis & design - designing a solution for that portion of the system.
Implementation - writing and integrating the code for that portion.
Testing - thoroughly testing portion of system and integration.
Deployment - putting completed portion into operation.
Project management - for entire project, and for iterations - risk management, planning and monitoring.
Configuration and change management - software version control, integration of different versions, handling requests for changes.
Environment - focuses on the activities necessary to configure the process for the project - work environment, selecting tools