The basic problem with so-called waterfall software projects was that it took too long to find out if you were actually producing the correct product and to know when it would actually be done. The idea that you could gather all the requirements up front, throw them over the wall to the system analysts, who would then throw their design over the wall to the programmers, meant that no actual product was seen by the client until a lot of work had already been done. Once it finally got into the testers' and clients' hands and something was found to be systemically wrong, schedule and cost overruns were inevitable (and common).
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The basic problem with so-called waterfall software projects was that it took too long to find out if you were actually producing the correct product and to know when it would actually be done. The idea that you could gather all the requirements up front, throw them over the wall to the system analysts, who would then throw their design over the wall to the programmers, meant that no actual product was seen by the client until a lot of work had already been done. Once it finally got into the testers' and clients' hands and something was found to be systemically wrong, schedule and cost overruns were inevitable (and common).