Generation Production of successful software project is one of the prime considerations of software industry. Engineering high quality software products is further influenced by several factors such as budget, schedule, resource constraints etc. A project manager is responsible for estimation and allocation of these resources in a project. Hence, role of project manager has a vital influence on success of the project. This research comprises of an empirical study of several projects developed in a product and service based CMMI Level 5 Software Company. The investigation result shows a significant impact of aforementioned factors on the success of software and on the company. The analysis further indicates the vital role of project managers in optimizing the resource allocation towards development of software. This paper brings in impact analysis of efficiency of project manager in effectively allocating resources such as time, cost, number of developers etc. An awareness of efficiency level of project manager in optimal allocation of resources enables one to realize the desired level of quality.