This paper reports on findings from a three-year study of project-based learning implemented in the first year of the Industrial Engineering and Management programme, at the University of Minho, Portugal. This particular model was inspired on project-led education (PLE), following Powell and Weenk's [2003. "Project-Led Engineering Education." Utrecht: Lemma] work. It aims to analyse students' perceptions of PLE as a learning device and its implications for faculty and students' role in teaching and learning. Data collection took place in two phases through individual surveys and focus groups to students. Findings suggest the importance of PLE as a device to enhance meaningful learning and provide evidence from students that it helps to increase their engagement in learning. Implications of PLE for faculty and students role in teaching and learning will be discussed in the paper.