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Although there is a massive number of development methodologies, evidence suggests that most development shops use no methodology whatsoever! Many of the development methodologies can be categorized as belonging to one of the following approaches:

The waterfall metholology was first formally described in 1970 and describes a set of phases that are executed sequentially. Perhaps one of the key characteristics of the model is that requirements are specified and committed to, with any changes to those requirements being considered an exception.

Agile began as an approach to software development described in the Agile Manifesto. The Agile approach spawned several software development methodologies and frameworks, the most well-known being Scrum. Agile approaches differ from waterfall in that the phases tend to be repeated to be more responsive to changes in assumptions and accommodate learning.