Rapid application development (RAD) is a term originally used to describe a software development process introduced by James Martin in 1991. Martin's methodology involves iterative development and the construction of prototypes. More recently, the term and its acronym have come to be used in a broader, generic sense that encompasses a variety of techniques aimed at speeding application development, such as the use of web application frameworks and other types of software frameworks. RAD approaches may entail compromises in functionality and performance in exchange for enabling faster development and facilitating application maintenance.

Reference:
http://en.wikipedia.org/wiki/Rapid_application_development
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