The pharmaceutical industry is booming and the race for manufacturers to bring new drugs into market faster is closer than ever before. Every money invested must be justified and any initiative must deliver positive and tangible results. We know pharmaceutical industry is one of the most regulated industries in the world and pharmaceutical companies everywhere are scrambling for new ways to develop their products faster, within the budget and according to quality standards. Recently, more and more pharmaceutical companies have begun to focus their attention on one of the most simple, cost-effective ways to improve their processes and speed product development. Key pharmaceutical decision maker clearly recognize the impact that project menagament has on their companies bottom lines. Tight production schedules prevent many companies from finding the time to dedicate project management expansion and training. Instead, these companies attempt to manage critical projects and clinical trials with limited trained staff and drastically reduced lead times. Too often, the unfortunate result is projects that are late or over budget and extremely costly to the company. In the pharmaceutical industry, project management is the key to adressing the unique regulatory, compliance and quality related needs. The process of drug development and the critical issue of time to market can capitalize on project management techniques to effectively apply planning, scheduling, risk management and control of the process of bringing a drug to market in a cost-effective but within the timeline. Project management is particulary helpful for providing structure and focus through the tumultuos ride from project identification to the product market launch. Project managers are able to assign the appropriate amount of time and resources to each phase of the development and ensuring that work can progress forward in a logical but controlled way. The two key challenges in the pharmaceutical industry are quality and schedule, both of which are directly addressed by the tools and techniques used in project management. We can conclude that projects are the crucial way in functioning of pharmaceutical companies. Within this review we can see that all R&D projects affect the overall process of pharmaceutical industry.