The information technology (IT) industry is characterized by rapid innovati
on and intense competition. To survive, IT firms must develop high quality
software products on time and at low cost. A key issue is whether high leve
ls of quality can be achieved without adversely impacting cycle time and ef
fort. Conventional beliefs hold that processes to improve software quality
can be implemented only at the expense of longer cycle times and greater de
velopment effort. However, an alternate view is that quality improvement, f
aster cycle time, and effort reduction can be simultaneously attained by re
ducing defects and rework. In this study, we empirically investigate the re
lationship between process maturity, quality, cycle time, and effort for th
e development of 30 software products by a major IT firm. We find that high
er levels of process maturity as assessed by the Software Engineering Insti
tute's Capability Maturity Model(TM) are associated with higher product qua
lity, but also with increases in development effort. However, our findings
indicate that the reductions in cycle time and effort due to improved quali
ty outweigh the increases from achieving higher levels of process maturity.
Thus, the net effect of process maturity is reduced cycle time and develop
ment effort.