A method and system have been disclosed for determining one or more performance parameters of a project. Various examples of the performance parameters of the project may include productivity, efficiency, and quality. The method described above includes defining one or more lifecycle stages of the project. Examples of the lifecycle stages of the project may include requirement analysis, high-level design, detailed design, build, integration test, system test, documentation, acceptance, installation, and post implementation. Further, the method includes receiving details of one or more tools being used for each lifecycle stages of the project. The method further includes assigning a score based on the one or more tools being used for the project. Further, the method also includes automatically calculating a value based on the assigned score. Thereafter, the performance parameters of the project are determined based on the calculated value. Ref Fig. 1
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