Business analysis glossary
Waterfall
What it is
Waterfall is a sequential way of delivering projects in which each phase, such as requirements, design, build, test and release, is largely completed before the next begins. Documents are usually detailed and formally approved. Its strength is predictability and documentation; its weakness is that feedback arrives late, so a misunderstood requirement may be found only in testing.
Why it matters
It suits work with stable, well-understood requirements or strict regulation. Analysts must get requirements right early because changes later are costly. Many organisations use a mix, with waterfall-style governance around agile delivery, so analysts benefit from knowing both ways of working.
Example
Kestrel Bank replaces a regulated reporting system. The requirements are fixed by law, so the team completes the BRD and design, obtains sign-off and only then starts building. The sign-off at each stage gives auditors a clear trail, which matters more than speed in this kind of regulated work.