Project management is a planned and combined, organized effort to achieve a specific result. It includes a series of activities to be performed simultaneously within a specified timeframe. The project manager role starts from developing projects plan, setting the goals and objectives of the project. The project manager has an important role in managing risk and setting budgets for completing the project on specified time. The other phases of project management are implementation, evaluation and review. The project manager identifies potential risk that the project can face and hence accordingly frame risk management strategy. Hence, as soon the risks are identified and analyzed the project manager define how the risk will be handled. The project manager develops multiple strategies to analyses if the risk is a threat or an opportunity. The project manager employees several techniques to improve the accuracy and reliability of the project schedule. Techniques such as PERT and CPM is helpful to the manager in scheduling the activities of the project.