Software Development is a complex and multidimensional task. Often software development faces serious problems of meeting key constraints of cost and time. Big projects which are well planned and analyzed, can end up in a disaster because of mismanagement in cost estimation and time allocation. Program slicing has unique importance in addressing the issues of cost and time. It is broadly applicable static program analysis technique which provides mechanism to analyze and understand the program

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... ehavior for further restructuring and refinement. In this paper, authors investigate the relationship between program slicing and software development phases on the basis of empirical studies conducted in the past and also establish the fact that how program slicing can be helpful in making software system cost and time effective.