This paper discusses a decision-making model, which can be used to determine the efficiency of a Code Review Process. This model is based on statistical techniques such as control charts. The efficiency of a code review in detecting defects is determined by taking inputs from past data, in terms of cost and yield of code reviews. This estimate also provides an in process, decision-making tool. Other tools can be used in conjunction with this model, effectively, to plan for code reviews and to forecast the number of defects that could be expected in reviews. This model can be successfully used to decide what the next step of the operational process should be. The decisions taken using this model help reduce the number of defects present in the software delivered to the customer.