Methodology Policy

What needs to be considered in devising a company’s policy for selecting a methodology to develop software applications?

In answering this question we first need to consider does a company need a policy for determining which methodology/model to use? What are the advantages/disadvantages to having such a policy?

Would it be appropriate to include repercussions for not complying with the policies? If your company or one that you are familiar with has such a policy, tell us about the key elements.

Minimum number of words 500, referencing with Harvard style and the number of references not less than three Academic Articles or books.

Please, make sure that there is no Plagiarism