This paper presents an ontological analysis of the Software Engineering Metamodel for Development Methodologies (SEMDM), provided by the ISO/IEC 24744 Standard. An ISO initiative intends to use SEMDM as source of an ontology for standards harmonization purposes, and the ontological analysis can help to ensure the required semantics. This analysis is done in the light of the Unified Foundational Ontology (UFO). As result, we present some of the problems identified in SEMDM, as well as alternative model fragments solving them.