Iterative Development is a core Agile modeling principle. The concept revolves around developing a project through repeated cycles (iteratively) and in smaller portions at a time (incrementally), allowing software developers to take advantage of what was learned during the development of earlier parts or versions of the system. Iterative development provides opportunities to learn and improve with each iteration or cycle, enhancing the overall solution. This approach is about delivering smaller parts of a system and growing these smaller parts over time into a full, complete system.

Modeling is another key concept in Agile Modeling. It involves the creation and use of models (i.e., representations of concepts, systems, or information) to assist in the visualization and control of a software development project. These models are often visual and can include diagrams such as use cases or class diagrams. The goal of modeling in Agile is to assist all stakeholders (including developers and customers) in understanding the system better and avoiding misconceptions.

Model Storming is a fundamental practice in Agile Modeling, referring to the process of exploring difficult problem spaces or brainstorming potential solutions. It's a just-in-time (JIT) approach aimed at creating models in real-time without previous planning. Model Storming allows Agile teams to take advantage of different perspectives, improve communication and encourage creativity. During these sessions, anyone can propose ideas, and the best ones get implemented. This approach aids in the construction of a shared understanding of the problem.

Active Stakeholder Participation is a critical Agile Modeling concept that means stakeholders are actively involved in the development and modeling process instead of passively observing it. This approach ensures that all perspectives are considered and that the final project will meet the actual needs of the stakeholders. The goal is to provide feedback in real-time, mitigate misunderstandings, and produce software that matches the stakeholders’ expectations.

The Multiple Models concept in Agile Modeling suggests that teams should use multiple models to express and explore their work over relying on a single model. This approach recognizes the limitations and biases of any one model and posits that different models can provide different insights or perspectives on a problem. Using Multiple Models can make it easier to comprehend complex systems and identify potential solutions. It's the key to mitigating tunnel vision and enhancing the overall understanding of the project.

Test-Driven Development (TDD) is a method in which you repeatedly and rapidly write automated testing code alongside the code being developed. The process includes writing a test, seeing it fail, making the test pass by modifying the functional code, and then possibly refactoring the code to improve its structure or performance while ensuring all existing tests still pass. TDD minimizes bugs, simplifies debugging, improves code quality and design, and supports agile principles like continuous integration.

Change-Driven Development is a methodology that foresees change as an inevitable aspect of the development process. Change can come in the form of new requirements, technology advancements, or regulatory adjustments among others. The premise here is to adapt quickly, efficiently, and effectively to these shifts in direction. Developing mechanisms to anticipate, plan for, and manage change is the primary focus of this approach. This concept is paramount in Agile Modeling, as it encourages flexibility, resilience, and current orientation in the project scope.

Simplicity is a fundamental concept in Agile Modeling, it refers to the practice of keeping things as simple as possible, but not simpler. It encourages getting rid of unnecessary complexity and focusing on what matters the most. This may refer to code simplification, design simplification or process simplification. This approach aims to prevent over-engineering, minimize waste, speed up delivery, and improve the maintainability and understandability of the product. Simplicity is in line with the principle of Occam's razor, that proposes the simplest solution is often the best one.

In the Agile Modeling methodology, it is important to have a clear purpose for each model. So, 'Model With a Purpose' is a straightforward concept: every model should have an explicit and worthwhile reason for its creation and maintenance. This purpose can be communicating ideas, driving implementation, or simply serving as documentation. It encourages efficiency, relevance, and meaningful contribution from each model, reducing the risk of creating models that are of little use.

The concept 'Collective Ownership' suggests that everyone on the team shares ownership of the project and its associated artifacts, including models. No single person has sole ownership of any part of the system. This idea promotes teamwork, shared responsibility, and accountability. It also facilitates flexibility, as any team member can make changes or improvements as needed, without needing to seek permission from a specific 'owner'. This enhances the overall pace and efficiency of the development process, fostering an environment of shared knowledge and learning.