The main difference between the Parallel Development Methodology and the Iterative Development Methodology is that:

The Parallel Development Methodology will have various releases $($like version $1\mathrm{.}0$; $2\mathrm{.}0,$ etc.$)$ and the Iterative will not

The Iterative Methodology will break the system project into sub$-$projects for analysis, design and implementation and then merge them into a final system and the Parallel will not

The Parallel Methodology will have subprojects and the Iterative Methodology will have various releases

The Parallel Methodology will create various models or prototypes with user involvement before setting on design concepts and the Iterative will not

The Iterative Methodology will create various models or prototypes with user involvement before setting on design concepts and the Parallel Methodology will not