Prakash,
LVM is a big chapter in the Great Book of
AIX. You have to read first (the manual is a good place to start) and ask more specific questions later.
Your question is similar to asking how to drive a car. Well, easy, you jump in, ignition, accelerator and you're on your way... Or maybe it's a little more complicated. Consult the documentation first.
Check out the man on mkvg, mklv, crfs, lspv, lsvg, lslv, lsfs, lsdev...
Cheerz,
:sbzx: