In the discussion period, our IT manager and the consultant revealed that, yes, it was probably true that much, if not all, of the “new method” was in fact a simple formalization of what was considered good practice and that the formalization of such practices would, if religiously enforced, allow the mediocre (present company obviously excluded) members of the industry to produce mediocre systems. The method was not, they averred, aimed at professionals such as themselves, but meant to address the question of how an increasing demand for reliable computer systems was going to be met by an industry with a small number of experienced developers available.
I would guess that if you had polled that audience, you would have found that though most of them had trained in scientific subjects—math, electronics, and physics were the most widely held areas of qualification—they regarded what they did as a craft rather than an art, and certainly not a science.