[Tobias Schaller]

As every transaction is unique, I was wondering if the information gathering process should follow a waterfall approach or is it more useful to conduct DD with an agile mindset.

[Shamil Fayzullin]

I believe it is a combination of both. There should be some formal waterfall process to handle different DD workstreams together and probably a more agile approach that every workstream can use.

[Nora Sophia Martin]

I made great experience with an agile project management approach this year. My last M&A project was highly complex and many stakeholders were involved, furthermore there were many changes during the process so we had to stay flexible. All this are good reasons for an agile approach. I even used a agile tool to track and report (Jira).

[Daniel Nur Hakim Ismail]

The choice of approach for conducting due diligence (DD) will depend on the specific circumstances of the transaction, including the nature and complexity of the target company, the timeline for the transaction, and the resources available. However, in general, it can be helpful to apply an agile mindset when conducting DD.

Benefits in agile approach to DD includes faster results, improved accuracy through analysis of smaller chunks of information in each sprint, flexibility and foster collaboration.

However, waterfall may be appropriate in situations where it is operating in a highly structured and regulated industry like the financial services where all relevant information is collected and analysed thoroughly.

[Chuck Adams]

In my experience, it’s definitely a mixture of both. Our firm splits the M&A transaction process into six Phases, and while there is a clear “waterfall” between each phase, the intra-phase work, like due diligence, is much more agile-like. Daily updates, verifying progress on single items, etc.

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