Hey there Abhijit,
I don't know which bulk edit tool you are using for 2010 - as I am not aware of one that is part of the product.
Generally speaking it is not advised to write any data to the SQL Databases used by Project Server. For Project Server 2010 you can connect to the reporting database and query the data for read-only purposes. Any other interaction with the Project
Server databases via SQL will cause your installation to become unsupported from a Microsoft perspective.
Regards,
James.