The Generic Methodology for Verification and Validation (GM-VV) is a generic and comprehensive methodology for structuring, organizing and managing the verification and validation (V&V) of modelling and simulation (M&S) assets. The GM-VV is an emerging recommended practice within the Simulation Interoperability Standards Organization (SISO). The GM-VV provides a technical framework to efficiently develop arguments to justify why M&S assets are acceptable or unacceptable for a specific intended use. This argumentation supports M&S stakeholders in their acceptance decisionmaking process regarding the development, application and reuse of such M&S assets. The GM-VV technical framework assures that during the execution of the V&V work the decisions, actions, information and evidence underlying such acceptance arguments will be traceable, reproducible, transparent and documented. Since the GM-VV is a generic (i.e. abstract) methodology it must be tailored to fit the specific V&V needs of a M&S organization, project or application domain. Therefore, V&V practitioners must incorporate specific V&V techniques within the generic architectural template offered by the GM-VV in order to properly assess the M&S assets under review. The first part of this paper provides an introductory overview of the GM-VV basic principles, concepts, methodology components and their interrelationships. The second part of the paper focuses on how the GM-VV may be tailored for a specific simulation application. This effort is illustrated with some results and lessons learned from several technology demonstration programs of the Dutch Ministry of Defence.