Due to globalisation, today's business environment obtains celerity and transparency of the global capital and product markets. Resultant from those changes of the world market, companies have to face an increase in the standards to remain competitive. Firms must ensue to that general trend of reducing costs, carrying a high yield and decreasing life-cycle time of their products. That change in business leads to certain requirements successful companies have to cope with. Externally, a corporation has to concentrate on the whole environment and especially on the customers. Internally, a flat, flexible, task oriented organisation, an orientation on high quality and the concept of a "learning organisation" are significant. To meet the internal requirements there is the need to build groups in which employees can work together on their own responsibility and achieve their given targets. Project Management prepossesses the requirements mentioned above and therefore plays an important role in today's business environment. But not only in hierarchical organisations a leader giving visions to the employees is needed, as also projects have to be guided and the team is to be made perform their specific assignment in order to complete the given job. Concluding, from the major challenge pertaining to the latest surroundings and also "the greatest competitive advantage global companies in the twenty-first century can have is effective global leaders." Without effective leadership reaching the company's targets and coping with the increased exigencies of business becomes much more difficult. Hence, effective leadership by the management is a crucial factor for each company to survive in the fast changing business environment. Identifying project management and leadership as two key is-sues responsible for a company's success, those factors have to be combined efficiently to meet the latest environmental requirements and remain task and target oriented.