Final answer:
Adaptive management is the iterative method used by organizations for continuous improvement and innovation of processes and products through a spiral design process.
Step-by-step explanation:
The iterative management method that organizations use to control and continually improve their processes and products is known as adaptive management.
This spiral design process ensures that changes are made based on feedback and evaluation, promoting a cycle of continuous improvement and innovation.
The spiral nature of this process implies that with each iteration, a design or process moves closer to its ideal state, integrating lessons learned from previous cycles.
The advantage of this approach is the gradual enhancement and refinement of the product or process.
However, a significant disadvantage is the potential for increased time and resource demands, which could lead to projects being late or over budget if not carefully planned.