The Critical factor which causes an organizations downfall and decline is lower productivity. Any failure to meet the required productivity level will potentially result in higher costs for services and commodities will not be competitive enough to stay in the market. All the business units are trying very hard to remain competitive in the market. Therefore, it is paramount importance for businesses to implement strategies to make improvements in productivity always. World economies are depending on software for delivery excellence and higher economic outcomes. Software field remains very challenging as it is more people centric in nature with respect to software engineering processes and practices. This paper covers a thorough study of a large number of factors influencing throughout the life cycle of a software project.