Every year, countless projects are finished late, go over budget or end up being cancelled, often because their project managers and project teams lack the necessary tools and techniques to support their decision-making. Students of project management courses around the world have difficulty integrating the different knowledge areas of project management, after studying each knowledge area separately. Students then struggle and even fail when it comes to applying these concepts in a real-life project. Simulation-based training contributes to the solution of these problems by linking the concepts learned during a project management course and providing the experience of managing a simulated project that serves as preparation for real life. The objective of this research is to study the impact of simulation-based training and flipped classroom methodology on students learning project management. The contribution of this research is twofold. First, from a theoretical perspective, simulation-based training and flipped classroom methodology literature is enriched and broadened by applying both teaching tools. Second, from a practical perspective, an improvement in results, satisfaction and lessons learned was found when using simulation-based training under flipped classroom methodology compared to simulation-based training in a traditional classroom.