According to current statistics, 70% of US companies prefer Agile over the waterfall method because of the high success rate of 64% compared to projects competing under the waterfall method, where the success rate is 49%.
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With Agile, there is more room to change direction as the project develops, so the budget is also subject to change. Similarly, the timeline with Waterfall is set from the start, while it's more flexible with Agile and dependent on how the project develops.