The Waterfall methodology is a sequential and linear approach where the project progresses through clearly defined phases:
Requirements
System design
Implementation
Integration and testing
Maintenance
Each phase must be completed and approved before moving to the next.
When to use Waterfall:
Requirements are well-defined and stable
Project scope is unlikely to change
The project is relatively simple
The solution is delivered all at once
In Finance and Operations, Waterfall works well for straightforward implementations with minimal customization.
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