Waterfall product development is a means of physically developing a product by working through discrete phases in a linear fashion, with each phase depending on the successful completion of the previous one. It is typically used when the requirements for the final product are well understood and unlikely to change significantly during its development. One advantage of waterfall product development is that it can help to prevent scope creep, as each phase has clearly defined deliverables and milestones. However, it can also be inflexible and slow, as it does not allow for easy changes to be made once a phase has begun. As such, it is best suited to projects where the requirements are well understood and unlikely to change.
The waterfall product development process is a linear approach to development where each phase must be completed before moving on to the next.