Software methodologies are different ways or methods used to apply the individual best practices mentioned earlier. A methodology will address how to assemble the best practices in some coherent order so that your project will succeed. Methodologies have changed over the years and which one is right for your project will depend on what kind of project you have as well as the attitude of your developers.

For example, if your projects requirements are well known and unlikely to change and the end product must satisfy every requirement then a more traditional approach such as the waterfall or spiral methodology may work best for you.
If however your requirements are minimal and constantly changing and your customer is unsure of what will solve their problem, a more agile approach may allow you to interactively work with your customer to achieve success.
We have listed several methodolgies below with brief explainations of how they work.

Waterfall method

Spiral development model

The Rational Unified Process (RUP)