Abstract
The requirement of a software to be free from any kind of error,defect or fault is still a very big challenge to the IT industry.Software system’s size, lifetime and complexity is continuously growing but there is often not much flexibility to deadlines and budget.Also,cost is the main factor which should be considered before developing a software project.A possible software failure may lead to millions of breakdown costs, loss of reputation, or even injure people.But,when this is done correctly,it helps in the successful completion of the project. This paper focusses on providing an insight upon finding the right balance between quality and quality assurance costs during different phases of software development life cycle which in turn would increase organizational economic status, as well as conceptual and economic perspective.
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