Top Definition
The excruciatingly long, drawn-out waterfall-like project management project a large company goes through to implement "agile", involving executive planning retreats, consultants, PowerPoints, and a series of deadlines.
Example of a waterfagile project:

At their last retreat, the executive committee developed a plan to implement agile by the 4th quarter of next year. To facilitate the transition, they have engaged the services of a consultancy well-versed in agile. More information will be released to employees later this Summer.
by A4A132F2-CD27-48C2-B8C9-55DEF2 August 01, 2012

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