Project is an instrument of change and no project is complete unless its objective is achieved. Every project is specific and unique and the term ÒprojectÓ is constantly expanding and ever changing. This first volume deals with the managerial aspects of a project, i.e., project phases; its formulation and appraisal techniques; there is no single best technique and executive judgment is essential. Every chapter outlines the objectives to be delivered and includes project instances, brief case examples, and case studies that provide an analytical kit for executives and professionals. The book makes for a lucid reading and serves as a guide for the reader. It has been written based on our experiences gained and feedback collected from teaching, training, and delivering various consultancy projects..