  Project Management process plays a significant role in effective development
of software projects. Key challenges in the project management process are the
estimation of time, cost, defect count, and subsequently selection of apt
developers. Therefore precise estimation of above stated factors decides the
success level of a project. This paper provides an empirical study of several
projects developed in a service oriented software company in order to
comprehend the project management process. The analysis throws light on the
existence of variation in the aforementioned factors between estimation and
observed results. It further captures the need for betterment of project
management process in estimation and allocation of resources in the realization
of high quality software product. The paper therefore aims to bring in an
improved awareness in software engineering personnel concerning the magnitude
and significance of better estimation and accurate allocation of resources for
developing successful project.
