Aiming 720 Need Advise

Dont' get discouraged - I scored 540 on my first GMAT Prep as well!
However, I spent the next 3 months studying to get 750. You may be able to get some improvement, but you wont get past 650 in a month. See this thread for suggestions on how to improve in a short amount of time:

1-month-to-go-need-110-point-improvement-79468.html
600-to-700-in-3-weeks-strategy-tips-please-79141.html

So, you will have to invest a bit more into this. You did not really think you would get rid of GMAT so easily?

Thanks for your help bb . I have gained confidence and will again.

I believe that my past Gmat Prep score does not reflect the reality since I made panic and made up the all questions . What do you suggest about taking Gmat Prep 2 or taking Gmat Prep 1 .I have 1.5 month to my original exam and I will retake those when 1 week left to the D-DAY . Memorizing the questions will affect my score in which deviate my real score from the fake score ,however , I will not even check the questions and answers in both Gmat Prep 1 and Gmat Prep 2.

Do you have any suggestions?

Nice job with the IMD avatar - great school!

Sounds that most of your issues may lie with timing and test-taking skills rather than the fundamentals.
You should take some tests (Kaplan, Princeton Review, Manhattan GMAT, others) to train yourself test taking skills and stamina - here is a listing of all available tests: all-gmat-cat-practice-tests-links-prices-reviews-77460.html

You can also use GMAT Score Estimator/Calculator to see how your results are improving across the different tests. It is possible you can reach 700 just by mastering your test techniques. One way to see your true potential is to turn off the clock - some tests allow that.

However, make sure you do as much review of the questions you made mistakes in as possible! This will give you cludes in which direction to invest more time and effort. There are GMAT books on every subject but the question is - which of them you need help with.

Keep an error logs - looks like you started already saving your results.
Also, there are things that most people need help with such as Critical Reasoning and advanced Math concepts - you can get MGMAT CR or PowerScore CR and for Math you can pick up Kaplan Advanced book - not the best book to use for learning but if you are at 650+ level, then it could be a fit. Finally, gmatcblub tests also offer advanced practice, but they are at 700+ level.

If you are a native speaker, Manhattan GMAT SC or Powerscore SC are good. However, if you are non-native, get Kaplan Verbal Foundations first - it does a great job of covering grammar.

Agree with everything BB said before. There are many people out there, myself included, that scored in the 500s after "adequate" prep.

Realize that the test makers want you to fall into a panic trap. It makes sense, successful leaders are able to remain calm, assess the situation, narrow the scope of the issue, and confidently execute.

Know the material, know the test makers motives, and refuse to accept "their" assessment of your abilities..

Thanks bb for your valuable advises. Yesterday I have taken Gmat Prep 2 and got 600 (28 V 44Q ) . I believe my previous experience (24 V 41 Q) is due to the panic that I've been encountered. I believe that your mental position in the exam can determine your score. Than I've decided a plan on my mind.

1)I had to Time myself even when I am practicing.- 1 min to SC questions 2 minutes to CR questions and 2 min to each of RC question(8-10 min to read and answer a paragraph and its questions)
2) I am non-native speaker and I can improve just my SC and CR. Since there are thousands of words in English and all can be used in RC paragraphs.I decided to spent my most time on SC and CR.
3)I have checked my mistakes most of them arised from CR and RC. That's a good news because I did not study CR yet.
4)I have determined to take notes in RC paragraphs and do the questions regarding timing .In both of the exams I have spent enourmous time on paragraphs. I've practiced RC questions,which seem easier than Gmat Prep, from OG today and I've caught a 80% hit rate.

Thanks all for your precious supports.

By the way I have talked with one of my friends who took 720 from Gmat. He advised me to take Gmat Club quant tests . I think I will take a one shortly.

That's much better. Things are definitely looking up - congrats on your mini-victories.
Stress can do a lot of damage on the test - that's one of the reason to have a strategy for each section so that you can follow it mindlessly when you are staring at the ticking clock. I am not kidding by the way.

GMAT Club tests are more of a 700+ level - may want to wait before you get hurt - don't get upset if you get a very low percentiles - you are competing with Titans.

Go through the CR/RC and in 3-4 weeks, you want to start taking Verbal practice tests to start putting it all together. practice with OG is good, but nothing trains for the test as a computer test with a timer on it.