From the course: Agile New Product Development for Manufacturers

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Agile compared to waterfall: Part 1

Agile compared to waterfall: Part 1

From the course: Agile New Product Development for Manufacturers

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Agile compared to waterfall: Part 1

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- [Instructor] Up to this point in the course, I've been talking about the advantages that the Agile Project Management methodology has for new product development, and it certainly does. Hopefully by this point, you're understanding some of those advantages and thinking about how you may use them in your organization. What I want to now take a few moments to talk about is that Agile, in and of itself, is not the complete answer and Waterfall or the traditional project management methodology involving stage gates is not bad, either. In fact, the two should work together. Part of this is because the two are really meant for different things. Waterfall is really about investment decisions. It's about, do we have enough business maturity, do we understand what we're getting into, do we have enough product knowledge, to make the decision to go or no go, to move to the next step. Waterfall is very good at preventing bad projects or preventing projects that ultimately end up failing because…

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