<p>The primary aim of the research is to identify how specific project, team, and user characteristics influence the selection and effectiveness of different software development approaches. The study intends to provide an outline for selecting the most appropriate methodology to increase project achievement rates, reduce costs, and ensure higher-quality deliverables. The methodology employed in this research is a literature review aimed at identifying research gaps in existing literature and relevant data parameters falling into four main categories: requirements, user participation, project type, and development team characteristics. The study surveyed methodologies utilized by various IT firms in software product creation. Surveys and analyses of IT professionals regarding software development methodologies (SDMs) consistently indicate that no single methodology is ideal for all situations. Choosing a methodology is deeply influenced by a combination of project, team, and user-centric factors. Understanding the complexities of software development methodology selection is essential for IT developers. By identifying and incorporating concrete data parameters, such as requirements, user participation, project type, and development team characteristics, developers can generate more knowledgeable decisions, resulting in improved project outcomes.</p>