As many business analysts say, following Aerospace guideline DO-178 for developing aerospace software products is not cheap and it comes with a cost. That too, experts say DO-178C can increase the cost of the product above DO-178B, which already increased costs by around 20-40%. So, to keep the cost under control, it is definitely important that we need to develop the software product by following various technical methodology and processes rigorously. DO-178 relies upon significant verification (reviews, tests, and analysis) to assess product quality. However, product quality comes from a quality process, design, and implementation, not just from testing. Performing Traceability verification is one such approach to determine if the requirements are correctly and completely captured, designed, implemented and verified. In this paper we discuss the various phases of the project lifecycle where the Traceability verification needs to be performed. These Traceability verifications are a