The principles of effective project management are potentially applicable to any project type across different industries. It has been established that the basis of these principles have been designed so as to accommodate variety of tasks and industries but still fine tuning is required during the course of certain projects (Papers4you.com, 2006). According to Davidson (2002), the origin of project management can be traced back to the post World War II era in which new efficient developments started taking place across the triad i.e. the US, Europe and Japan.

Projects are formally defined by Cleland and Gareis (1994), as the process that transforms and unsatisfactory state of affairs into better state within certain time and resources limit. The literature within the domain of this subject has accepted the fact that orientation towards project based approach is concentrated within few industries due to their inherent characteristics. Drawing upon Krezner (2001), it can be elaborated that those industries that are project-driven like construction and aerospace, needs more rigorous project specifications. The evolution of PM process has started from such industries and has permeated into others with differing levels (Papers4you.com, 2006). Its applications, concepts and methods have been broadened for its uses for all the industries.

The development of standardized procedures for project management has been the centre of discussion for many years and in today