Iterative Waterfall Development
In the traditional Waterfall model, the team goes through each phase for the entire project. For example, they do the analysis for the entire project, then they do the design for the entire project, etc.
In an iterative Waterfall model, there is still a lot of upfront planning required. Once the plan is in place, the team follows the same pattern as traditional Waterfall but does it for each story. They do the analysis for one story, then all the design for one story, then all the coding and testing for one story. Then they repeat the process for another story. The work is broken up into chunks that benefit the development team.