Page 24 Oeconomics of Knowledge, Volume 6, Issue 4, 2014 Software Project Scheduling Management by Particle Swarm Optimization Dinesh B. Hanchate Department of Computer Engineering (PG), Vidya Pratishthan's College Of Engg., Baramati, Pune-413133, Maharashtra, INDIA dinesh_b_hanchate[at]rediffmail[dot]com Rajankumar S. Bichkar Professor, E & TC, G.H. Raisoni College of Engineering & Management (GHRCEM), Wagholi, Pune-412207, Maharashtra, INDIA. Rajankumar[dot]bichkar[at]raisoni[dot]net Abstract: PSO (Particle Swarm Optimization) is, like GA, a heuristic global optimization method based on swarm intelligence. In this paper, we present a particle swarm optimization algo- rithm to solve software project scheduling problem. PSO it- self inherits very efficient local search method to find the near optimal and best-known solutions for all instances given as inputs required for SPSM (Software Project Scheduling Management). At last, this paper imparts PSO and research situation with SPSM. The effect of PSO parameter on project cost and time is studied and some better results in terms of minimum SCE (Software Cost Estimation) and time as com- pared to GA and ACO are obtained.