the gap between qualification of university graduates and real market demands, which has been observed over the last decades, reveals the challenge of deploying project-based educational technologies in higher education. The chapter is aimed at analyzing findings of applying a project-based approach in higher education in Russia. The study was carried out over the period of 3 years involving interviews of freshmen. The research discloses the major benefits and possible hurdles engaged in the process of introducing project-based technology in Russian higher education. The most significant positive results noted by the respondents, were the acquisition of team work experience and development of communication skills. Among the problems associated with the implementation of project tasks, the greatest challenge is presented by the task of building communications with outside organizations. A conclusion was drawn that the key obstacles for first-year students are linked to secondary school education. This can be explained by the current dominating role of traditional teaching methods at schools discouraging the development of practical skills. The study has shown that gaps in school education can be largely solved already in the first year within the framework of project-based learning. The above given evidence makes it possible to conclude that it is necessary to introduce various forms of project-oriented activities into the school curricula. Findings of the empirical research carried out in the study have major implications for teachers in higher educational establishments who are involved into guiding project-based activities of first year students.