Since the National Implementation of Innovation and Entrepreneurship Education for college students, the majority of un- dergraduate students have obtained great benefits. Both the innovation and entrepreneurship ability and practical ability have been improved greatly, which has laid a good foundation for going to the society. However, there are still some problems in the process of application, project establishment, organization and implementation of innovation and entrepreneurship project, and there are still loopholes in the management of innovation and entrepreneurship project of college students in quite a number of colleges. The au- thor puts forward some suggestions and opinions on how to manage the innovation and entrepreneurship projects of university stu- dents so as to make more breakthroughs in project management.