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"Analysis, Specifications, Requirement, Design".

When people hear "waterfall" they imagine doing this for the entire project end to end. It's super risky to do this because nobody knows what they want until some of it is built. And if you just spent a year of a teams time building something and "tada" you show the user... odds are not in your favor that it will do what everybody actually wanted. Plus odds are good it might not work because there was no iteration to shake out the rough spots.

To me, the key for "agile" is rapid iteration. It's a bunch of mini waterfalls where every step delivers something of value (even if that value isn't directly visible to the end user yet). Each iteration forms a feedback cycle that helps make sure a team is delivering something the end user actually wants.

In practice I don't think anybody is actually doing "waterfall classic". It's more of a story we tell to remind us how important it is to get in the habit of rapid iteration.

(Sidenote: there is plenty of other reasons to rapidly iterate. The end project is built on a moving target. Business processes change over time, the competition changes over time, etc... if you have your specs 100% locked in at the beginning you'll find that half of them no longer apply after a year because so much has changed in your environment. There is also inventory costs of keeping so much code out of production for so long.)



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