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Improving software processes is a major concern for many organizations. Software project managers are concerned with questions such as: determining which development phases are essential and which phases can be skipped to reduce development costs; determining whether inspections are worthwhile; predicting the benefit associated with implementing a proposed process change before a substantial commitment of resources is made; and determining how to prioritize potential process changes. To evaluate these questions, many product and process factors such as source code quality, complexity, and size, developer skill, and tools must be taken into account. Also, the inherent stochastic nature of software development must be captured.Task Element Decomposition (TED) is a new approach which was designed specifically for modeling software development work. This method can capture variations and correlations due to code size and complexity, quality differences among components at different stages of development, and variations in the work performed by developers. This method is embedded in software process models to capture process details and interrelations which enable comparisons between alternative software processes and process changes as well as to prioritize process changes.This paper reviews three different modeling approaches and the suitability of each approach for capturing features characteristic of software development. TED is shown to be a superior approach for this work and is tested using a comprehensive software process example. Field data are then used to validate this approach from a leading software development company. Preliminary results from the validation are reported and further support the value of TED for modeling software development projects.