Software indutry has made a revolution in the past decades by surpassing all other business ventures by creating dependence for process as well as information. Software professionals need to work in teams and must have the right mix of skills that include technical, problem solving and interpersonal skills. Professionals of diverse groups tend to be more creative and perform better on problem solving tasks than homogeneous groups. Numerous organizations converted over to a team based approach and because of this; emotional intelligence is needed to aid the transition. Team members must be skilled in emotional intelligence in order to deal with interpersonal and intrapersonal conflicts, raise communication and commitment to accomplish their goals. Personality types affected team interaction and led to maximize the potential of people. Analyzing the Team Effectiveness of five groups of software project teams with regard to Team Diversity, Emotional Intelligence and Personality Traits will enable to understand the dynamics within software project teams and provide insights as to how such teams can stretch their resources to attain greater potentials and effectiveness as strength