Development Models like Waterfall, Agile, and variations on each have their strengths and weaknesses. While the textbook may explain the theoretical strengths and weaknesses, time and case studies may give you a better understanding.
Research online discussions
Research online discussions by evangelists on both sides, as well as locate some case studies. Explain in your own words how each of these development models works. Add your opinion as to which approach you like and why. Can you think of a project at your company that might be best suited to Waterfall Style? What about the Agile Style? Explain your reasoning.