In obsolete|lang=en terms the difference between project and collection
is that
project is (obsolete) the place from which a thing projects while
collection is (obsolete) the act of inferring or concluding from premises or observed facts; also, that which is inferred.
As nouns the difference between project and collection
is that
project is a planned endeavor, usually with a specific goal and accomplished in several steps or stages or
project can be (usually|plural|us) an urban low-income housing building while
collection is a set of items or amount of material procured or gathered together.
As a verb project
is to extend beyond a surface.