How do i keep myself updated about the project management field? What are the most important magazines and websites that I should follow?

The best way to get updated with latest Project Management Information you need to become a PMI member the link is http://pmi.org/, once you become member you will be able access its associated links like http://projectmanagement.com/ and many others.  This gives you a variety of knowledge about everything related to the Project management community.  I am sure you will be delighted to it.

Cheers!

Thanks

First, you'll make better decisions, and you'll spot threats and opportunities early on, which can give you a competitive edge. This is especially important if you contribute to shaping your organization's strategy. It's also important if you're involved in sales and marketing, where it helps you identify and take advantage of the sales opportunities that come your way.