This report explores two prominent project management methodologies: Agile and Waterfall. It delves into their definitions, key characteristics, and advantages. A comparative analysis highlights their similarities and differences, emphasizing their suitability for various project types. The report further examines the relationship between these methodologies and the Project Life Cycle (PLC), illustrating how they align with different phases. By understanding the strengths and weaknesses of each approach, project managers can make informed decisions about the most effective methodology for their specific projects.