SQL Server 2005 has a feature called “Copy Database” (you can right click on any database or server instance to find it). The function copies database from target sql server 2000 to the sql server 2005 while still keeping it online for target database users.
In my case, I ran through the migration wizard and in the last step which it actually runs the package which migrates database, it failed. It did not shown any proper error message so that I can find out what went wrong. I did it again and this time making sure I exactly follow the process but result was same.
So it did not go smooth. So I opted to do it crude way, by detaching and reattaching the database mdf file in sql server 2005. That worked. Then I had to migrate all dependent sql jobs and DTS packages manually as well.