Which methodology involves a collaborative iterative software development process including sprints?

Agile methodology is a framework for software development that emphasizes flexibility, collaboration, and customer feedback throughout the development process. It involves breaking down the project into small, manageable units called sprints, which typically last for a few weeks. During these sprints, cross-functional teams work collaboratively to design, develop, and test features, allowing them to adapt to changes quickly and efficiently.

This iterative approach enables teams to continuously improve their product by integrating user feedback at the end of each sprint, making it possible to respond to changing requirements and market conditions effectively. The emphasis on collaboration fosters communication among team members and stakeholders, ensuring that everyone involved is aligned and contributing towards the shared goals throughout the development cycle.

The other options do not encompass this collaborative iterative aspect. An algorithm is a specific set of instructions for solving a problem, whereas an API (Application Programming Interface) provides a set of rules for how different software components should interact. An application refers to software designed to perform specific tasks for users and does not describe a development methodology.