while inserting and updating data I need to check if combination Cube_RT and Project_Id already exists in the table. If so, then constraint must prevent updating table because this combination has to be unique.
If I am reading your requirement correctly, adding a unique constraint on Cube_RT and Project_ID should achieve what you are looking for. http://msdn.microsoft.com/en-us/library/ms177420(v=sql.105).aspx
But, what gives me pause is that you said Cube_ST, CubeName and Project_ID are not unique. Is Cube_ST another column in the table? If so, how does Cube_RT + Project_ID being unique impact that?