In software industry, up gradations are made in the software at a very brisk speed. The life of software is very short in the environment of perfect competition market therefore they have to come up with successive up gradations to survive. Features added to the software at frequent time intervals lead to complexity in the software system and add to the number of faults in the software. The developer of the software can lose on market share if it neglects the up gradation in the software but on the other hand a software company can lose its name and goodwill in the market if the functionalities added to the software leads to an increase in the number of faults of the software. To capture the effect of faults generated in the software due to add-ons at various point in time we develop a multi up gradation, multi release software reliability model. This model uniquely identifies the faults left in the software when it is in operational phase during the testing of the new code i.e, developed while adding new features to the existing software. The model developed is validated on real data sets with software which has been released in the market with new features four times.
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