What methodology is preferred now a days in Project Management ? water fall or agile?

Obviously Agile as its very flexible. Waterfall is an old methodology. As you know we are getting lot of Drag and Drop Functional exposing Technologies with very frequent updates from the Product owner. To over come the frequent challenges, we must use the Agile Methodology as its flexible to enable the flexible changes in the exiting design. Waterfall is a step by step methodology, before going to next phase, it suggests the first phase should be completed. This criteria will not be applicable in cloud & latest enterprise based applications.

I do like Agile - but I actually like the controlled and assurance I use with Prince 2. I do modify it a litle, but in all it is quite a good structured Mythology.