This research paper investigates the comparison between Agile and Traditional Software Development Methodologies and their impact on project success. Agile methodologies, known for their flexibility and iterative approach, contrast with traditional Waterfall methodologies, which are more structured and sequential. The paper explores the advantages and disadvantages of both methodologies in terms of project delivery, stakeholder satisfaction, risk management, and overall success. By analyzing key factors such as project scope, timeline, and resource allocation, this study aims to provide a comprehensive understanding of when each methodology is most effective. The findings offer insights into how organizations can make informed decisions about methodology selection based on project-specific criteria.