Most S/4HANA transformations today are positioned as Agile, business-led programmes aligned to SAP Activate. The language is familiar: iterative delivery, fit-to-standard, rapid validation, continuous user engagement. But scratch beneath the surface of many programmes, and a different reality often emerges. During the early design phases — particularly Explore — delivery quietly slips back into a waterfall model. Not by declaration, but by behaviour. It may look like you are