I took Managing Iterative Software Development Projects, by Kurt Bittner and Ian Spence (Addison-Wesley, 2007, 672pp, $49.99, ISBN-10: 0-321-26889-X) home to read over the Memorial Day weekend ...

Why, given that iterative and incremental [1] approaches dominate the literature, does business remain so wedded to the waterfall [2] approach to software development?