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When leading a high-stakes project, choosing between the rigor of Waterfall and the flexibility of Agile can make or break your initiative. For the last two decades, too many academics, leaders, project managers, and organizations have thought they have to choose one or the other. Worse, the emergence of Agile methods led to tribalism in the project community, stifling innovation and limiting the potential for truly effective solutions.

Bring a bunch of project managers together and inevitably they’ll share their thoughts about their least-preferred methodologies. I’ve heard it all: “Waterfall is a process designed for a world that no longer exists.” “Agile is a way of delivering failure faster.” “Waterfall is a dinosaur.” “Agile makes eagles team up with turkeys.” Entire organizations choose to “go agile,” setting aside the fundamentals of traditional methodologies that some projects need. This rigid and divisive thinking leads to real losses.

The key to navigating this landscape lies in hybrid project management methodologies that combine the planning rigor of Waterfall with the flexibility of Agile. Indeed, the Project Management Institute’s 2020 report indicated that 11.4% of investment is wasted due to poor project performance. The Standish Group’s CHAOS report showed only a 31% project success rate, with 19% of projects failing outright. This indicates an estimated annual global financial loss of an astounding $3 trillion, not to mention wasted resources, missed opportunities, and negative societal impacts.

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