Waterfall is a very rigid development philosophy. Also, it forces managers to really sit down and brain storm requirements for the software and prohibits, or very much discourages, changing requirements half way through the development process.
In the world of Agile, changing requirements half way through the implementation of a feature is common and, in many cases, encouraged.
When I was at GE, many of the requirements we got where totally half-azzed and managers had no problems changing their mind mid-stream. Unsurprisingly, we missed two ship dates.
JamesNT
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