Project Management Guide
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When to Use Agile vs. Waterfall

Agile and Waterfall are two popular methods for organizing projects. Waterfall is a more traditional approach to project management, involving a linear flow. Agile, on the other hand, embraces an iterative process. 

Waterfall is best for projects with concrete timelines and well-defined deliverables. If your major project constraints are well understood and documented, Waterfall is likely the best approach. 

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The Agile methodology was created for projects where the significant constraints are not well understood. If your project involves developing a new product, the scope and timeline may be difficult to determine in advance. Agile is flexible, enabling you to plan a project in stages or “sprints” to evolve as the work progresses.

Further Reading
blog post

What Are the Advantages of Waterfall Project Management?

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Agile versus Waterfall – approach is right for my ERP project?

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Agile Project Management vs. Process-oriented: Why Not Both?