The finding that deadlines affect work in organizational settings holds particularly true for software projects, which are usually conducted under time pressure. While the role of time pressure in software projects has been extensively studied, the findings yielded are diverse. Some authors report a positive relationship between time pressure and software project outcomes, while others find it to be negative or to follow an inverted U-shape pattern. Since many aspects concerning time pressure remain unexplained and its relationship with project outcomes is more complex than it might seem at first glance, we synthesize pertinent research to develop a research agenda aimed at improving the understanding in this domain. Our literature review shows a variety of time pressure conceptualizations, research approaches, and research contexts. The results reveal an inconsistent picture of time pressure’s impact on software projects. Our research agenda includes five themes we deem beneficial to consider in future research.