Both are methodologies for executing projects with waterfall being the traditional one and agile the newer, more modern one.
This is another post in my project management fundamental series and we'll look at the two approaches, their differences, advantages and disadvantages.
Let's describe briefly the two concepts first.
Waterfall project management is about chunking the project into linear sequential phases, with each new phase beginning only when the prior phase has been completed. It's often used in construction.
Agile, on the other hand, is an iterative approach with less initial planning focusing on continuous releases and incorporating customer feedback with every iteration. It's often used in software development.