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Requirements need not be etched on stone. Requirements can be evolved over time as the development work begins
Test smaller but logical functions or modules as and when developed. Design, Develop, test, deploy smaller set of requirements one sprint at a time.
Each sprint has a tangible output that can be realized by the business owner. The customer gets to see tangible outcome every week or every two weeks depending on the sprint cycle.
Team capacity can be flexible as per the work that is required to be completed for each release. Let surprises on scope change, expectations v/s reality for both the software vendor as well as the end customer.
Budget, scope and quality can be controlled as we go along building the product. The software product features are evolved during the process of building it rather than decided at the beginning of the project