The multimedia information system represents a specific form of information system. This research area suffered many changes in direction due to technology shifts. The general problem is that few years back, multimedia technologies had been limited to relatively simple, stand-alone applications, but multimedia systems, particularly Web-based systems grew in complexity and intervened with many critical issues for development. In this chapter, a specific focus will be cast on existing methodology approaches, their upsides and downsides, and on the surveys and research done by distinguished authors in this area on what sort of methodologies are used in practice. Afterwards, the focus of this chapter will be on whether existing development methodologies can be applied to multimedia systems and if there is any need to adapt them for that specific purpose.