Project management has evolved over the years and is adopted by different industries for successful project execution. Many organizations today are moving from a functional structure to a project-oriented team based structure. Also, Project management has progressed from a traditional approach to a modern project management approach and moving towards sustainable project management.Many studies predict a major growth in automotive industry in the developing and emerging markets compared to the developed nations. Many multinational and transnational companies are setting their foot in the developing/emerging economies to leverage the expected growth in the automobile sector, and especially India. These projects are likely to have uncertainties during their planning and execution phases. Here traditional project management approach is not adequate and project management sustainability becomes a challenge.There are books and standards which gives a good detail on the traditional/ conventional project management tools. If we have to handle projects in such fuzzy or uncertain situations, we need to build upon the existing traditional tools or use some contemporary tools. This paper focuses on the contemporary tools and approach for successful project execution in this scenario. The challenge is the use of appropriate tools and approaches, tailored to the organizational requirements. The tools and approaches which will help us in gearing up for the sustainability challenge, and which will be focused in this paper includes innovation, automation, knowledge management, perception management.