In SPP V1 youopen the portal  in a web form and drill down to each dash board and
set the security  to remove the everyone group as reader and assign roles to the
specific individual.

Thanks for the Valuable feedback but i have a query.
First of all i want to tell you that I am Using SPS 2001 version.
Second i didnt understand what u mean to say by this Statement "open
the portal  in a web form and drill down to each dash board"
Do u means to say that i should open my portal in IE and then click
on setting links and goto setting page.
Thirdly Can you explain in a procedure and if u have any code can you
please send me.

Open MyNetworkPlaces and create a new network place to
http://yourservername/yourworkspacename using the wizzard. This hsould create a
web folder. Then you open that folder and click Dashboards. You should see each
of the Dashboards. Right click on each one and click Propoerties->Security.

my problem is that my dashboards don't appear in the folders.
Has anyone has this problem?

What are u saying is about personal dashboards. In the dashboard
folder only personal dashboards are get stored. I dont have any
personal dashboard  i have all the dashboard lying in the portal
directory becoz they are the sub dashboards of Home dashboard.
So please take this into consideration..

Then open a web folder to your server and look in the 'Portal' folder. there
should be a subfolder for each of the subdashboards.

Yes u r right but when i right click on it and goes to properties it shows me
only on tab say 'General' . There is no other option. I am using shrepoint
client.

Not sure what you mean by using SharePoint client. You cannot do it using
Internet Explorer. You need to create a new Network place that points to your
SharePoint server. Using the NetworkPlace Wizzard you wouled use
http://yourServerName/yourWorkspaceName

You must have the appropriate permissions to access the portal. If you are not a
coordinator you will not be able to change the security  settings.

What i mean to say is I am sitting on WINNT
workstation where i have installed a sharepoint client. Because of which i can
access the sharepoint server thorugh webfolders. I dont how can i use IE to do
the setting which u explained. I think we can do by opening the Sharepoint
workspace in the web folder on the windows explorer.

Use Win2k workstation. It will fly.

You have to make sure that when you are connecting via the web folder to
the server, you are using the NetBIOS name of the server and not the
FQDN. By using the FQDN, you will not be able to configure any security.
Check to see if you are using the NetBIOS name, for example,
http://spsserver/workspace and not http://xxx.abc.net/workspace.

He is correct, if you are doing any "management/security" functions you
must be running from at least a win2k pro machine. Otherwise you should
be able to jump onto the sps server machine which must be Win2k Server.