Characteristics of Software Process 

Optimality and Scalability

Optimality revolves around producing high quality software at low cost in less time.
Scalability means that the process should be applicable to all sizes and all complexities of projects.

Predictability
Support for Testability and Maintainability
Early Defect Removal and Prevention
Process Improvement 

 Predictability

Predictability of a process determines how accurately the outcome of following a process in a project can be predicted before the project is completed.
Predictability of a software process revolves around:
    Cost and Schedule Estimates &
    Plans for Quality Assurance
    Statistical Control

Support for Testability and Maintainability

Software maintenance cost exceeds software development cost.
Effort Distribution in Phases:
    Requirement Analysis        10%
    Design                20%
    Coding                20%
    Testing                50%

Early Defect Removal and Prevention

Errors can occur at any stage and the cost of correcting errors of different phases is not same and depends upon when the error is detected and corrected.

Error Distribution in Phases:
    Requirement Analysis        20%
    Design                30%
    Coding                50%

Detection of errors soon after they have been introduced is the objective to be supported by the process.

Process Improvement

Software process should support its own improvement or evolution. It is done by the process management component of the Software Process
Mechanism:
     Evaluation of Software Process
    Understanding weaknesses
    Improving upon
Objective
    Evaluation should be quantifiable rather than subjective.