The Waterfall Model is a linear project management approach used primarily in software development. It consists of distinct phases, including requirements gathering, design, implementation, testing, and maintenance. Each phase must be completed before moving on to the next, making it easy to understand and manage. This model is best suited for projects with well-defined requirements and minimal changes. One of the key advantages of the Waterfall Model is its structured nature, which allows for clear documentation and progress tracking. However, it can be inflexible, as returning to a previous phase can be challenging. Despite this, it remains a popular choice for projects where requirements are unlikely to change significantly.