Faults in software systems continue to be a major problem [1]. High quality of software is ensured by Software reliability and Software quality assurance. Both these concepts are drawn in throughout the software development and maintenance process. The activities like the performance analysis, functional tests, quantifying time and budget along with measurement of metrics are used to ensure quality. A software bug is an error, flaw, mistake, failure, or fault in a computer program that prevents it from behaving as intended (e.g., producing an incorrect result) [2]. This paper surveys literature review of articles for the past many years in order to explore how various prediction methodologies have been developed during this period in order to take care of the issues related to software defect.