Fanshawe attempted the Projects module several years ago and even had a functioning data feed with Colleague to transfer financials. Unfortunately, it didn’t meet the needs of our Project Team so it never got off the ground.
I believe Humber has done a fair amount of work with Projects – you may consider following up with Suzanne Hardcastle or Spencer Wood.
It’s been awhile but I recall that there were a number of key fields that were not available in the module to support an intuitive workflow. Also, reconciling the project invoices between Archibus and our financial system was complicated.