This report provides a comprehensive comparison of two prominent project management methodologies: Agile and Waterfall. It defines software development methodologies and highlights the key differences between Agile, characterized by its iterative and flexible approach, and Waterfall, a more traditional, sequential model. The report details the strengths and weaknesses of each methodology, examining scenarios where each is most effective. It explores the advantages of Agile for complex projects with changing requirements, while also acknowledging the benefits of Waterfall for projects with well-defined requirements. Furthermore, the report discusses the advantages and disadvantages of both methodologies, including considerations such as documentation, testing, and team structure. The use of Jira as a project management tool is also analyzed, emphasizing its role in enhancing project visibility, task prioritization, and overall productivity. The report concludes by offering insights into selecting the appropriate methodology based on project characteristics and organizational needs.