Nowadays, domestic researchers use the concepts of «project», «project management», and «project activity» without the strong scientific rationale. The commercial organizations activity provides the importance of studying the scientific essence and content of projects and project management in modern market conditions. Indeed, there are requirements of their competitiveness necessary level. At the same time, the concept of a project requires to consider its scientific essence. The various papers and Internet contain a lot of controversial definitions of the project, project management, and project activity concepts. As a result, there is an issue of scientific rationale of the project, project activities and project management in terms of the activities of commercial organizations. Based on the analysis of the investigated problem to identify the essence of the concepts of projects in the activities of commercial organizations and project management, the following conclusions are made: currently, researchers actively use the concept of the project in relation to the activities of commercial organizations in market conditions, while a clear scientific understanding of the essence of the project they are not given; an important characteristic of the project as a product will be a certain uniqueness for the consumer; work on the implementation of the project in a commercial organization becomes a kind of professional activity and can be designated as a project activity, that is, work on the project; limited time to implement the project - this is not a characteristic of the project, but a prerequisite for the implementation of the project in a commercial organization, as a «delay» in improving its products or creating new products can cause the loss of the market and, consequently, the existing level of competitiveness of the commercial organization; limited resources to implement the project - this is also not a characteristic of the project, but the second prerequisite for the implementation of the project in a commercial organization, as to improve its products or create new products can cause a loss of market and, consequently, the existing level of competitiveness of the commercial organization; the product of the project activities can not be managed, as from the position of the theory of management of organizations the object of management are the employees of the organization, as a consequence of this you can not manage the product of the project activities, not the activity itself, but you can manage the employees involved in the project activities.