This paper presents a multi-perspective view of the final-year project of an industrial engineering and management (IEM) department. The final year project is a major element of a 4-year curriculum within any engineering discipline. Such a project gives the student an opportunity to use and implement methods, techniques and tools that he or she studied during the entire course of studies. The project is conducted in a working organisation of any type under the supervision of the academic staff. This paper presents observations from 10 years of experience during which 172 projects were performed within production and service organisations. In this paper, we present the final-year project methodology to achieve its aim and objectives supported with an assessment process to ensure professional performances. (Contains 1 table and 1 figure.)