Practical Agility: Waterfall Works!
We simply cannot say that Waterfall doesn't work. The catch is, though, that it's at best a sub-optimal way to deliver systems, especially now in the 21st century. When I present this to people, though, I frame it in the context of when Dr. Royce wrote his paper and presented it at the IEEE Wescon conference.
Waterfall isn't bad because of the artifacts; waterfall fails because of the lack of collaboration. Read this for agile and waterfall share a common ancestry and strive to achieve the same goals.
