Core competency team within your project

Hi Satish , Absolutely paramount to set up a core project Team.
It depends on the Project that you are running off course and the core team can be scalable according to the size.
Off course if you are the only person that your employer can afford to employ on the project, then there is no choice but for you to run the project on your own but you can still leverage the expertise of other departmental resources like your finance manager or your legal advisor.
If you have staff available to execute the project with you, at a bare minimum have a Subject Matter expert and a Business Analyst .
Again it also depends on the industry in which you are executing the project. If it was an IT project , your core team will have a Business Analyst, An Architect , A Project Manager and a Subject Matter Expert who knows about the Product or Service you are procuring or updating. Then there are others like Developers/Test Analysts /Quality Assurance Leads etc.