The use of agile methodology has become widespread in organizations that previously relied on traditional or structured software development methods, such as the waterfall approach. Successful completion rates for agile initiatives are at 40%, whereas only 15% of waterfall projects were successfully completed. To take advantage of the benefits of each method, many organizations are using a hybrid approach that combines Agile with Waterfall and structured software development methodologies. Rather than asking which methodology is superior, it is more productive to determine which one is most effective for a particular project. Agile projects have a failure rate of 10%, while waterfall projects fail 30% of the time. This study aims to compare and contrast agile and waterfall methodologies in order to create a decision tree for selecting the most suitable method for a software development project. Several cases and scenarios are examined using the hybrid development approach. Despite many advantages of Agile methodologies, a combination approach may be necessary, as Waterfall may be required for certain projects or development phases. This study explores the feasibility of combining Waterfall and Agile methodologies in software development management.