PurposeThis paper is focused at studying the current state of research involving the four dimensions of defect management strategy, i.e. software defect analysis, software quality, software reliability and software development cost/effort.Design/methodology/approachThe methodology developed by Kitchenham (2007) is followed in planning, conducting and reporting of the systematic review. Out of 625 research papers, nearly 100 primary studies related to our research domain are considered. The study attempted to find the various techniques, metrics, data sets and performance validation measures used by researchers.FindingsThe study revealed the need for integrating the four dimensions of defect management and studying its effect on software performance. This integrated approach can lead to optimal use of resources in software development process.Research limitations/implicationsThere are many dimensions in defect management studies. The authors have considered only vital few based on the practical experiences of software engineers. Most of the research work cited in this review used public data repositories to validate their methodology and there is a need to apply these research methods on real datasets from industry to realize the actual potential of these techniques.Originality/valueThe authors believe that this paper provides a comprehensive insight into the various aspects of state-of-the-art research in software defect management. The authors feel that this is the only research article that delves into the four facets namely software defect analysis, software quality, software reliability and software development cost/effort.