I think you are over simplify things a bit. If you have worked with software and hardware development, you will see they are two different beasts. Hardware requires almost perfection because you can't easily roll out updates and bug fixes on hardware minus firmware upstates which is why waterfall normally works well for hardware. As for software, things can be done iteratively and should be done as such hence Agile and Kanban. You shouldn't compare software development vs hardware development.
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I think you are over simplify things a bit. If you have worked with software and hardware development, you will see they are two different beasts. Hardware requires almost perfection because you can't easily roll out updates and bug fixes on hardware minus firmware upstates which is why waterfall normally works well for hardware. As for software, things can be done iteratively and should be done as such hence Agile and Kanban. You shouldn't compare software development vs hardware development.