Explain the Waterfall methodology in Finance and Operations projects.
Short Answer
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Answer:
Waterfall is a sequential methodology where:
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Each phase must complete before the next begins
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Requirements are fully defined upfront
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Deliverables are documented and approved phase-by-phase
It is suitable when:
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Requirements are stable and well-known
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Scope changes are unlikely
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The solution is implemented in one go
However, it risks:
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Late issue detection
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Longer timelines
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Limited flexibility
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