In the Project Management Benchmarking Forum held in USA more than 50% of the Fortune 500 companies reported having project management offices in place. Four top priorities identified by the Fortune 500 companies were "Project Office, Portfolio Management, Risk Management and Financial Returns". A survey evaluating the merit of project management according to 20 different IT metrics, showed more than 21% overall improvement when project management initiatives came into play. (Source: Centre for Business Practices, USA) . There are over 180,000 certified project managers globally. In India we only have about 1000. In last 5 to 6 years, the certification of project managers has grown exponentially in matured economies. In USA and Europe, in both Government Administration and Corporate Boardrooms, modern project management is considered to be the 'core' methodology. In USA, there are over 160 Universities/Institutions awarding degrees/diplomas in PM. In India there are hardly any. In China IPMAs 4 Level Certification of project managers/team members has grown exponentially in China. In India we have to catch up with them Japan has recently launched their own Project Management Body of Knowledge (PMBoK) in November 2001. PMA President, Adesh Jain was invited to Chair this function. There has been a mind-boggling growth in the membership of professional PM associations in matured economies. The total professional membership is now estimated to be over 130,000. It is estimated that over 10,000 seminars/workshops related to PM are being held every year in USA. In India, this number may not exceed 1 or 2 per week. Tom Peters is singing the glory of 'projectised' culture for corporations. Rosabeth Moss Kanter of Harvard University says "There are two skills essential to successful modern management, ...... one is skill in project management". It is estimated that 4.5 million people in United States (representing about 3.3 percent of the employed U.S. workshop) may regard project management as their profession of choice. The size of the profession in the rest of the world may be more than 12 million. According to an estimate U.S. public and private sectors spend some 2.3 trillion on projects every year, an amount equivalent to one quarter of the gross domestic product. It is estimated that the world as a whole spends nearly $ 10 trillion of the world's $ 40.7 trillion gross product on projects of all kinds. Individuals working in project management have an annual median total compensation of $ 75,000 and an annual average total compensation of $ 82,389 in US much higher then the professionals in other sectors.