In general terms:
"build" means to transform some source for an application into a form that can be run; (occasionally "build" also is used as result of performing a "build process", for example, the WAR file that results)
"build process" is the series of steps necessary to perform a build
For example, to "build" a web app, the "build process" might consist of compiling
servlet sources into class files, and packaging
JSP and servlet classes into a WAR file. Tools like
Ant and Maven help you in defining a build process.