Term that describes the cyclical nature of the revision process

The most likely term is revising. The revising process comes after proofreading and edit in order to improve content. After the initial draft has been created this cycle of proofreading, editing and revising can be done over and over, such is their cyclical nature. In essence, proofreading looks for mistakes, editing fixes the mistakes (these are often can be done by a reader different than the author, like a teacher or an editor for more professional materials) and revising reacts to the previous two steps by reviewing the commentary and suggestions for improvement and then implementing them through rewrites.