In recent years, it has become more usual for universities to approach companies and involve students in industrial projects, in complement to internship proposals and participation to classes. The engineers from the industry offer a variety of subjects to be performed by students. As a professor, managing groups of students on industrial projects requires a different approach and a number of changes in the organizational rules that are used in project management in industry context. To compare the difficulties and the challenges of the two worlds of management, we will define the following principles: - The subjects must be prototypes, R & D studies (mathematical models, simulations, designs, analysis, etc.), - No industrial production will be done, - Projects must be small, usually a charge equivalent to 6 months full time. For biggest projects it is difficult to have the same students (they change classes, academic programs might change, etc)