Keeping the projects on time and budget is essential not only for their efficient completion but also for earning credibility and more business for the organization. With competition becoming more intense in the business world, companies today need highly skilled project managers to meet the goals and exceed expectations. Statistics suggest that only 57% of projects are completed within budget (without any additional funding) and only 51% successfully maintain the original schedule. Project management is also one of the hottest skills in the business world today and although the number of jobs is growing exponentially, a huge number of candidates lack the crucial skills which is creating a talent gap. Regardless of the type of project, there are certain core skills needed for project management to ensure successful completion and delivery. And, when the budget is limited and timeline is short, the task becomes even more challenging.