What methodology I prefer and what methodology I am forced to abide by are very similar to yours.
Our management structure is uncomfortable with the "iterative" development methodologies because the business partners are remote from the developers, and they like giving thier requirements in the form of a quasi-design. For instance, instead of asking for data for a certain purpose, like a report, we will get a SAS query and they will ask us to reproduce the same results from our Oracle Data Warehouse. In addition, developers rarely have direct access to the business partners and have to communicate through a "Single Point of Contact" or SPOC. Many times, the SPOC for the business partners will communicate the need for a new project to the SPOC for the developers; a Project Request Document will be produced, then the SPOC for the developers will solicit the requirements from the Business SPOC, and a deadline will be set; all before the actual technical people get involved with the project. Then when the technical people have questions about the requirements, the developer's SPOC is the one to answer their questions, to insulate the Business from "interruptions" and "repeating themselves".
So what happens is a very Waterfall approach where we turn out what we think the Business Partners want, and it rarely meets their real requirements.
Oh, and we don't ever do it fast enough. ;-)
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