Understanding the best approach : Agile or Waterfall

The debate for which methodology is better for a project to be based upon is a critical decision which can significantly alter a projects outcome. The success of a project can also be measured or depend upon the methodology on which the project is based. Agile and Waterfall, both are important, critical and widely used approaches for project across industries for software development. The methodologies are different and unique in their own way to achieve the end product. Waterfall methodology is a step wise process, which ensures that unless a previous phase has not been completed, we cannot surpass and move to next one. It is a linear approach and requires discipline and strict boundaries to maintain so. The process is very foreseeable and that is its advantage. Basis the approach the phases in software development life cycle like Requirement gathering and analysis, Design, Development, Testing and Deployment will come one after the another. When all the important decisions like timeline of the project, budget, have already been fixed at the start, it becomes easy to chalk out the deliverables. It is the correct approach for project where we know that the scope of continuous change will not arise and requirements are fixed at the beginning for good. Meanwhile Agile is a relatively newer methodology introduced. As the name suggests it is quite flexible in its working and approach. The project is divided in small working lifecycles to improve the quality of the product. Agile is more leaning towards the Customer's point of view and their involvement. It gives more preference to a working software than to documentation of the project. Discussions and Interactions with clients are very important in agile as is the the feedbacks gathered from clients. Client satisfaction is the ultimate thing that matters and If client is not satisfied with the result of the product, then rework and resolution is required. Acceptance to change is the only way forward in this methodology. The methodology is defined in a way so that the Client, Business Teams and technical team unite and work towards the end product. There will be daily interactions within each vertical so that any chance to improve should not be neglected. Self-evaluation within teams is very important for the work they do along with complete focus on activities which are to be done instead of concentrating on other things. Both methodologies have their own way of working. Many companies now days are choosing Agile methodology as it gives advantage towards superior product quality. Its accommodating approach is what a client is looking out for. Since the focus is more on clients point of view, their feedbacks and constant and consistent improvement, this methodology is a stronger option. This doesn't make Waterfall any less valuable though. projects where the process is very structured and regulated, waterfall methodology is being opted. As they know that there will be no changes in the requirements which has been fixed already, waterfall will be better option to choose. In my personal opinion now a days client satisfaction is ultimate parameter for a project, Agile seems a better of the two option.