In regards to the assessment of whether or not project managers are prepared to be effective leaders of virtual teams, little research has been done. The aims of this study are to first examine literature to identify the recommended leadership style and best practices to be effective, assess if project managers possess them, and make recommendations for training. To address the aims, a case study using a survey questionnaire to measure leadership style, knowledge and experience of best practice, and a self-assessment audit was conducted within a multinational pharmaceutical organisation. The results suggest that project managers do possess the required leadership style, have the required knowledge to apply best practices, and self-assess as having the skills to be effective. The results also suggest that training in the effective use of technology has the most value in preparing project managers. Existing research suggests a change is required to train and develop virtual team leaders but the results indicate that the gap may not be as wide as suggested.