Abstract:

Software development projects are notorious for being completed behind schedule, over budget, and often failing to meet user requirements. Where the blame does lie? All too often the answer is poor project management. Recession in USA is badly affecting IT industry mainly from third world countries like India, China etc. The problem is aggravated by fall in USD. Net effect of these is reduction in pay-packages, pay hikes/bonus. Under such turbulent conditions, the uphill task for the management is to avoid displeasure and retain employee knowledge base. In this paper we have presented an affordable paradigm shift that is necessary in project management to overcome the present turbulent state with a focus on turbulence resulting from recession.