The winds of globalization and extraordinary shrinkage of the globe into a village has made companies and societies to become 'projectised' i.e. they have got to be faster, better and cheaper to survive. The sun never sets on the globe. In this new scenario, it is imperative to create high compression of time to reduce the total time taken from initiating a concept to its realization. That is why project management as a formal discipline is emerging as the key area of growth. Rosabeth Moss Kanter of Harvard once said in the late 90's "There are two disciplines which would dominate the substantial part of 21st century.. and one of them is project management."