Individual personality assessments tools have a strong following among Fortune 100 companies.[1] Besides being used for hiring purposes, individual personality assessment tools give project managers insight into personality and aspirations, as well as how they process and organize information, make decisions, and interact with team members and other stakeholders. The aim of this research study was to explore what personality traits project managers need to lead a project team effectively. To accomplish this, we employed the Big Five Personality® and the Myers-Briggs (MBTI®) personality assessments to identify favorable personality traits and characteristics when managing projects. A convenient sample of 202 managers engaged in an advanced project management educational program, responded to the Big Five Personality® and the Myers-Briggs (MBTI®) personality assessments. Thus, the results of this quantitative study can be used by companies when hiring, assigning project managers, and for team building to achieve business success.