Software measurement programs (MPs) are an important means for understanding, evaluating, managing, and improving software processes, products and resources. However, implementing successful MPs still remains a challenge. To make a comprehensive review of the studies on MPs for bringing into light the existing measurement planning models and tools used for implementing MPs,the accumulated knowledge on the success/failure factors of MPs and mitigation strategies to address their challenges. A Systematic Literature Review (SLR) was conducted. In total, 65primary studies were reviewed and analyzed. We identified 35 measurement planning models and 11 associated tools, most of which either proposed extensions or improvements for goal based approaches. The identified success factors include (a) organizational adoption of MP, (b) integration of MP with SDLC, (c) synchronization of MP with SPI and (d) design of MP. The mostly mentioned mitigation strategies for addressing challenges are effective change management and measurement stakeholder management, automated tool support and incorporation of engineering mechanisms for designing sustainable, effective, scalable and extendible MPs, and measurement expertise and standards development. Most of the success factors and mitigation strategies have interdependencies. Therefore, for successful MP implementation, software organizations should consider these factors in combination and make a feasibility study at the very beginning.