Software projects today are often characterized by poor quality, schedule overruns and high costs. One of the approaches to address the poor success rate is to track the project progress with a stakeholder driven measurement model that is objective and validated - theoretically and empirically. In this backdrop, based on the Goal-Question-Metric (GQM) model this book proposes a generic and objective measurement model for a software project with eight key measures based on the value propositions of the stakeholders. The measurement model is validated (i) theoretically with measurement theory criteria and (ii) empirically with case studies and a global survey representing IT industry practitioners.