The Spiral Model is a software development process that combines iterative and incremental approaches. It emphasizes risk assessment and management at each phase, allowing teams to identify potential issues early. The model consists of repeated cycles, or "spirals," where each loop represents a phase of development, including planning, risk analysis, engineering, testing, and evaluation. Each spiral begins with a planning phase, followed by risk analysis, where developers assess potential challenges. After that, a prototype is developed and tested, leading to user feedback. This process continues until the final product is refined and ready for deployment, ensuring a more adaptable and responsive development cycle.