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Software quality ranks (SQR) is an important method to manage and improve software quality. Component software quality has a major influence in development project lead time and cost. SQR enables better management and visibility of the quality effort associated with the component implementation. It also provides a roadmap for continuous improvement leading to value add quality attributes like low maintenance, self optimizing software and short development lifecycles. SQR method focuses attention to prioritizing the quality investment on design component level through different quality assurance mechanisms (basic test, code review, desk checks, documentation and other actions). The resulting design delivery to verification phase will be more predictable quality software with shorter lead-time and time-to-market (TTM).