The only thing I'm aware of that seems to actually work is to hold engineers accountable for results and give them the autonomy to set their own process. I would argue that even very rigorous methodologies like NASA's Systems Engineering[0] process match that description.

[0] https://www.nasa.gov/connect/ebooks/nasa-systems-engineering...

I am a "Software Engineer". I hold a Professional Engineer designation by APEGS, my schooling was for Software Engineering. I advocate for regulation in the industry but also don't think it needs to be sweeping and catch-all.

My job has me working within Industrial Control environments. Programming mistakes can kill people or damage equipment worth millions. When I receive a software package from someone I want to have some trust in a system that this person wasn't hired off the street for lowest wage. My employer has a good reputation in our industry and is asked to come clean up messes from programmers overseas who provide a bad system and walk away from it.

If your job doesn't have you playing with lives of people or holding the wellbeing of a company in your hands then regulation shouldn't be as stringent. But to say that every project of that magnitude has an Engineer overseeing and holding responsibility over it isn't overreaching imo.