Researchers have identified methodologies to enhance the chances of success for various projects but a little concentration has been given to projects related to software industry. An explanatory study was undertaken to identify the critical success factors for software projects. Communication factors, Technical factors, Organizational factors, Environmental factors, Product factors, Team factors, Project management factors were the seven critical success factors their effect on project success was measured. Data was collected from Pakistan based software houses and results concluded that there is a strong dependency of software project success over Team and Technical factors.