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The authors present an iterative and incremental development methodology for simulation models in network engineering projects. Driven by the DEVS (Discrete Event Systems Specification) formal framework for modeling and simulation, they aim to assist network design, test, analysis, and optimization processes. A practical application of the methodology is presented for a case study in the data acquisition system of the ATLAS particle physics experiment at CERN's Large Hadron Collider at CERN. By adopting the DEVS M&S formal framework in combination with software engineering best practices, the authors develop network simulation models along with enhanced modeling capabilities and boosted simulation performance for tools in a robust yet flexible way.