The rapid development of current information technology has brought about new aspirations in the academic world, especially in higher education organizations. Learning management systems (LMS) are software applications or Web-based technology used mainly for digital learning and studying. Even though there are many different kinds of LMS, the more advanced ones are usually highly priced and the simpler ones are limited, so the question is would an in-house built LMS be the best solution? This research focuses on the analysis of an in-house built LMS called LIBRI designed by the research team at the South-Eastern Europe University in Macedonia. The aim of this research is to describe the project of LIBRI as a success story and transform its development pattern into a standardized methodology for other future in-house LMS developments. A number of interviews were conducted and later analyzed through the research framework in an attempt to better view the step by step procedures taken by the developers. We present a detailed process view of the analysis, design, development, implementation and evaluation phases by conjoining their similarities with other relevant theories.