Modern product management has its roots in the 1920s, when Proctor & Gamble researchers sought to better sell products by better understanding how they were actually used by consumers. As the computer industry emerged, product management and product development became increasingly entwined, with the development of software necessitating a development process model to move the product lifecycle from customer need to market success.\nFor most companies involved in software development, that process followed the highly regimented \u201cwaterfall\u201d model. For large, predictable organizations, waterfall provides a centralized, standardized approach to development across the enterprise. But as companies become more and more dependent on digital business and services, many are opting for agile development methodologies and technology to speed up time to market.\nProponents of the two approaches can be rigid in their preference. But it\u2019s not necessarily the case that companies have to choose rigidly between one or the other.\nAligning with business agility\nAgile development fits comfortably under the umbrella driving business agility. Business agility means evolving faster. It\u2019s a way of being, a way of weaving resiliency and adaptability into the fabric of an enterprise. It\u2019s the new way\u2014the modern way\u2014to do business. Failure to evolve can mean failure to compete.\u00a0According to a Forbes\u00a0and Project Management Institute survey\u00a0of more than 500 senior executives around the world, \u201cA staggering 92 percent of executives believe that organizational agility, or the ability to rapidly respond to market conditions and external factors, is critical to business success. Eighty-two percent of respondents report that proficiency in agile approaches is important for the implementation of strategic initiatives. And 84 percent agree that organizational agility is necessary to succeed in digital transformation.\u201d\nThose aspirations map well to the principles of the Agile Manifesto, which in 2001 articulated goals of the burgeoning movement driving adoption of lightweight, iterative software development: customer satisfaction, harnessing change, entrusting in motivated individuals, frequent evaluation and adjustment to fine-tune behavior.\nLeveraging the Best of Both Worlds \nBut it\u2019s not always the case that organizations have to drop their investments in traditional waterfall tools and process in an effort to move wholescale to agile \u2013 many organizations successfully operate with hybrid models. There are places in the enterprise where waterfall still has an important role to play, from annual financial planning to quarterly investment. The magic happens when we\u2019re able to provide the agility for software development while connecting the business value that results from agile, to the seasonal or waterfall style management within the enterprise. \u201cWaterfall still has its moments, but you must build into a waterfall plan a way to show value in 90 days or sooner\u2014one of the hallmarks of agile,\u201d writes Chris Collins, general manager of CA services and education.\nThe beauty of agile is that it can be implemented in pockets across the organization, focused on specific opportunities for rapid development. But on large-scale projects, many organizations may not yet support the solutions and processes to ensure visibility of the progress of many independent agile development teams; in those cases, the structure and governance inherent in established waterfall development may be critical, particularly for established products needing relatively predictable updates and enhancements.\nBut for initiatives like mobility and e-commerce, or impending regulatory changes, an organization may need faster responses than some\u00a0teams can typically deliver. The key challenge today is how to unify portfolio investment decisions across all delivery methodologies\u2014agile, waterfall, and hybrid\u2014to ensure fast, predictable execution across the development organization in a manner that aligns with top business priorities.\nLearn more.