The sustainability of open water fisheries in Bangladesh is threatened by increasing fishing pressure, and loss of wetlands. The traditional fisheries management system in Bangladesh is for the government to lease out fishing rights. This has not limited exploitation to sustainable levels to achieve an equitable distribution of returns. The comparative analysis of approaches of different projects are implemented in Bangladesh helps to know the sustainability of co-management and performance of the Community Based Organisations are constrained by a lack of clearly defined benefit utilization, a mismatch between resource scale and management initiatives. Although the difference in catch per unit area (CPUA) is not significant (p>0.05) but, Per capita fish consumption was significantly higher (p<.05) for the beneficiaries of a project i.e., taking fish protein much more. The correlation between CPUA and fish consumption is insignificant. This suggests that the management approach and increase fish production in a water body is not sufficient to contribute to the livelihoods of the poor, other factors such as alternative occupations and access to year-round fishing are more important.