Sam eagerly entered the towering glass building that housed JPMorgan Chase's headquarters, feeling a mix of nerves and excitement. Today, he would embark on a job simulation exercise to learn about software development methodologies used by the company. His eyes were bright with anticipation as he made his way to meet James, his supervisor for the day.

James, sporting a crisp blue suit and a warm smile, greeted Sam at the lobby. 'Welcome! Today, you'll discover why we often prefer Agile methodology for software development,' he began. He motioned Sam toward a conference room where their session would take place.

In the conference room, James outlined the Waterfall method with a clear, informative diagram. 'Waterfall is a sequential approach where each phase must be completed before moving on to the next,' he explained.

James delved into the advantages and disadvantages of the Waterfall model. 'It's great for simple, unchanging projects. However, it's not flexible. If you need a change, it can become costly and time-consuming to go back to previous stages,' he cautioned Sam.

To bring the concept to life, James presented a challenge. 'Imagine you're developing a banking app with Waterfall. Midway, regulations change so your app must too. What do you do?' James asked. Sam pondered; with Waterfall, any change was a big hurdle.

After a brief pause, James shifted topics. 'Now, let's talk Agile, a method we're enthusiastic about here at JPMorgan Chase.' He listed the four key values outlined in the Agile Manifesto: individuals and interactions over processes and tools, working software over comprehensive documentation, customer collaboration over contract negotiation, and responding to change over following a plan.