This paper starts with presenting the context of the development of agile methodologies and a general justification for the existence of methodologies. The following section will give an overview of the different types of literature available in IS research as well as identify the gaps that can be mainly stated in the lack of empirical studies and the academic rigour they were conducted with. The next part will present the major arguments of proponents and opponents of agile methodologies. Then a third perspective will be introduced that takes a more balanced view on competing methodologies. It proclaims more openness to a flexible use of methodologies which can be more generally related to a paradigm shift and new implications for the work of developers.