The document compares Agile, Iterative, and Waterfall methodologies in software development, detailing their phases, quality control, risk management, and project management practices. It emphasizes the differences in planning, execution, and completion processes, highlighting Agile's focus on continuous improvement and flexibility. The text uses analogies from cricket to illustrate the varying strategies of these methodologies, such as the phased nature of Waterfall versus Agile's dynamic and iterative approach.