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ASD replaces the traditional [[waterfall model|waterfall]] cycle with a repeating series of ''speculate'', ''collaborate'', and ''learn'' cycles. This dynamic cycle provides for continuous learning and adaptation to the emergent state of the project. The characteristics of an ASD life cycle are that it is mission focused, feature based, iterative, timeboxed, risk driven, and change tolerant.
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<ref>{{cite web|url=http://www.adaptivesd.com/articles/messy.htm|title=Messy, Exciting, and Anxiety-Ridden: Adaptive Software Development}}</ref>
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