A unified academic model based on the project-based learning (PBL) methodology was implemented, in the 2012-2013 period, in the School of Engineering at Universidad Europea de Madrid. The purpose of this paper is to explore whether teachers and students participating in the capstone projects feel that the objectives for which this methodology was designed for are being achieved. The data were collected through interviews to participants at the end of the PBL experience. The results are encouraging, as students seem to be more motivated, and they say that they are experiencing deeper learning, and have developed key competitive skills required for their professional lives. Findings also suggest that teachers face positively the PBL as a learning approach since they perceive that students obtain a deeper learning, develop transversal skills with the projects and are more engaged with their studies. Implications and recommendations for the future of the model are also discussed.