In recent years, there has been a growing trend towards adaptive management of software development projects, particularly through agile frameworks. However, when contracting custom software development, these adaptive approaches are often set aside due to a lack of IT culture between the client and supplier. This is because clients require certainty regarding the scope, delivery time, and cost of the software product. This research proposes a hybrid framework that integrates both predictive and adaptive methodologies for managing software development projects. A comprehensive field study was conducted, including interviews with twelve software project managers. The findings are presented in three sections: the first identifies key challenges, the second outlines the proposed hybrid project management framework, and the third provides recommendations for project management under contracting conditions. The study concludes that a hybrid framework is most effective for third-party contracted software development projects, offering the necessary assurances on product scope, delivery timelines, and costs while allowing flexibility in the development process.