One thing that's been running around fairly recently is the use of Kanban-style processes for software development. The basic idea is that there exist a few simple highly-defined rules that enable a "pull based" process. Instead of a product manager determining what needed to be done and pushing it into development, we reverse the process. Development works on something, and when it's done, goes to product management and asks for the next thing. This blog has a good article summarizing the idea behind it.
Interestingly, this is something that was quite popular in MBA programs when I was in school in the late 1990s - more waves!
I'll be curious to see if or how this takes off.