In regards to Agile versus Waterfall, the question “which is the right methodology for my company?” is the wrong question. Companies need to be skilled in both project management practices in order to achieve the best results. The correct question that should be asked is “What attributes make a project a better fit for Agile or Waterfall?” It is essential to match the method to the project requirements.
Here is a list of some of the factors that make a project better fit for Waterfall:
- Firmness of requirements/deliverables
- Strict budget
- Cost of change is high
- Timeline constraints
- Compliance and regulatory requirements
- Lack of flexibility from stakeholders
Here is a list of some of the factors that make a project a better fit for Agile:
- Unclear requirements
- Emphasis on transparency & improvement
- No timeline constraints
- Cost of change is minimal
- Flexibility from Stakeholders
This is oftentimes used in some companies that are launching new product development lines.
An example of a company that uses Waterfall from our readings is Akshaya Patra. With strict timelines, compliance and regulatory requirements and budgets, Akshaya Patra uses this method on a daily basis in their food production.