Ever worked on a project where the requirements were scribbled on a napkin and you were asked how quickly you could get the project done? First time project managers sometimes fall into this trap, and it is a recipe for disaster.

To consistently deliver software solutions on-time and on-budget, you must follow a disciplined approach to managing the project. The only way to adequately determine the project timeline is to fully understand all deliverables of a project, to manage risk with risk mitigation, and to obtain signoffs along the way so that you have documented accountability.

Here is a simplified overview of how a software project should be run to ensure on-time and on-budget delivery. Notice that each phase requires sign-off from various project members to ensure a quality release.