The success of the software project is measured in terms of attainments of its success. To ensure the success, the software process must be mature enough to produce trustworthy software and also fulfil requirements according to the needs of the users. Hence, in literature review numerous software project factors have been identified. This paper evaluates the project factors by categorizing it in participatory and observatory factors. Therefore, it is deemed essential to perceive evocative legends to these factors by quantifying them. The identification of these factors plays an important role in successful software project completion.