(RAD) Rapid Application Development is software developed with a method focused on building an application in a very short period of time. It recently became a marketing hot topic describing applications that can be designed and developed in 60-90 days. Its original intentions were to describe a development process involving application prototyping and iterative development. Quality and speed are the obvious advantages of RAD, while reducing potential scalability and feature sets are the disadvantages. You can find more information here: what is rapid application development
