Agile development method adapts to change. Agile method focuses on the ‘actual software delivery’. It is best suited for catering to frequent changes in requirements, rapid iterations in customer specifications & extensive releases of the product.
Agile mythology involves highly skilled resource and very close coordination with the client team and end users. Agile witnesses rapid development, continuous regression testing and multiple releases of software versions within a short period of time.
Waterfall is emphasized on the structured progression in phase of the project, where each stage is completed before the next stage started. Every set of activities are defined in phase. In the waterfall method result and cost can be effectively calculated and estimated. Waterfall best suites where the requirements are well defined and unambiguous.