Waterfall and Extreme Programming are two software project methods used for project management. Although there are a number of opinions comparing the two methods regarding how they should be applied, none have used project data to clearly conclude which one is better. In this paper, we present the results of a controlled empirical study conducted at Carnegie Mellon University in Silicon Valley to learn about the effective transition from traditional development to agile development. We conducted a comparison research against these two approaches. Multiple teams were assigned a project; some used Waterfall development, others used Extreme Programming. The purpose of this research is to look at advantages and disadvantages based upon the outcomes, generated artifacts, and metrics produced by the teams.