Software architecture involves the structure and organization by which modern system components and subsystems interact to form system and the properties of systems that can best be designed and analyzed at the system level. This paper provides a review of the principles of architecture first approach in software project management and its effect on cost of software development process. This paper reviews the literature and practitioners’ experiences relating to architecture first approach, and advantages of architecture first approach in cost of software development process. This paper also reviews related works about factors that may reduce the cost of software development process. Weobserved parameters related to software architecture that may affect the cost of software development process. The parameters are software (product) delivery time, defect prevention, risk mitigation, and change management. After this, the parameters show that they have their own effect on the software development process. Finally, the paper concludes by describing how those parameters affect the cost of software development process.