Given a simple undirected graph $G=(V,E)$ and a partition of the vertex set $V$ into $p$ parts, the \textsc{Partition Coloring Problem} asks if we can select one vertex from each part of the partition such that the chromatic number of the subgraph induced on the $p$ selected vertices is bounded by $k$. PCP is a generalized problem of the classical \textsc{Vertex Coloring Problem} and has applications in many areas, such as scheduling and encoding etc. In this paper, we show the complexity status of the \textsc{Partition Coloring Problem} with three parameters: the number of colors, the number of parts of the partition, and the maximum size of each part of the partition. Furthermore, we give a new exact algorithm for this problem.