A finite element scheme using the concept of PISO method has been developed to solve the Navier-Stokes viscous flows in all speed range. This scheme includes development of new pressure equation that retains both the hyperbolic term related with the density variation and the elliptic term reflecting the incompressibility constraint. The present method is applied to the incompressible two-dimensional driven cavity flow problems(Re=100, 400 and 1,000). For compressible flows, the Carter plate problem(M=3 and Re=1,000) is computed. Finally, we have simulated the shock-boundary layer interaction(M=2 and Re=2.96×10⁵), a more difficult problem, and compared its results with the experiment to demonstrate the shock capturing capability of the present solution algorithm.