Most of the times speacially in IT industry, we have seen that people  promoted to project management role after working for 6-7 years in development or product implementation projects. However this new role require very diverse set of skills to be sucessful in their new assignment.
Here is a list of skills which are required to be an effective project manager.
An effective project manager should understand and use knowledge and skills from at  least five areas of expertise
  Project management life cycle & knowledge Areas
  Application area knowledge, standards, and   regulations
  Understanding the project environment
  General management knowledge and skills  Interpersonal skills
Project Management Knowledge Areas
 Project Integration Management
  Project Scope Management
 Project Time Management
  Project Cost Management
  Project Quality Management
 Project Human Resource Management
 Project Communications Management
 Project Risk Management
 Project Procurement Management
Application area knowledge, Standards and Regulations Application areas are categories of projects that have common elements significant in such projects, but are not needed or present in all project.
Application area knowledge, Standards and Regulations Application areas are categories of projects that have common elements significant in such projects, but are not needed or present in all project.
 Application areas are usually defined in terms of:
 Functional departments and supporting disciplines, such as legal, production and inventory management, marketing, logistics, and personnel
 Technical elements, such as software development or engineering, construction engineering etc.
 Management specializations, such as government contracting, community development, and new product development
 Industry groups, such as automotive, chemical, agriculture, and financial services
• The ISO differentiates between standards and regulations as follows
• The ISO differentiates between standards and regulations as follows
 Standard
 Document established by consensus and approved by a recognized body that provides, for common and repeated use, rules, guidelines or characteristics for activities or their results, aimed at the achievement of the optimum degree of order in a given context.
 E.g. Computer disk sizes.
 Nut and Bolt sizes etc.
 Regulation
 Government imposed requirement, which specifies product, process or service characteristics, including the applicable administrative provisions, with which compliance is mandatory. 
 E.g: Building codes
 Government imposed regulations
Understanding the Project Environment 
 Cultural and social environmento Economic, demographic, educational, ethical, ethnic, religious and other characteristics
 International and political environmento International, national, regional, and local laws Physical environmento Local ecology, and physical geography
General management knowledge and skills 
General management encompasses planning, organizing, staffing, executing, and controlling the operations of an ongoing enterprise. It includes supporting disciplines such as:
 Financial management and accounting
 Purchasing and procurement
 Sales and marketing
 Contracts and commercial law
 Manufacturing and distribution
 Logistics and supply chain
 Strategic planning, tactical planning, and operational planning
 Organizational structures, organizational behavior, personnel administration, compensation, benefits and carrier paths
 Health and safety practices
 Information technology
General management provides the foundation for building project management skills and is often essential for the project manager.
 Interpersonal skills
The management of interpersonal relationships includes:
 Interpersonal skills
The management of interpersonal relationships includes:
 Effective communication - The exchange of information
 Influencing the Organizationo - The ability to “get the things done”
 Leadershipo Developing a vision and strategy, and motivating people to achieve that vision and strategy.
 Motivationo Energizing people to achieve high levels of performance and to overcome barriers to change
 Negotiation and conflict management- Conferring with others to come to terms with them or to reach an agreement
 Problem solving - The combination of problem definition, alternatives identification and analysis, and decision-making