The first Windows version was released in 1990, and was labelled version 1 for Windows. Version 4 for DOS was the final DOS version, released in 1986. Microsoft bought all rights to the software in 1985 and released version 2.

The first commercial version of Project was released for DOS in 1984.

Boyd wrote the specification and engaged a local Seattle company to develop the prototype. Boyd, Microsoft's Manager of Product Development, introduced the application as an internal tool to help manage the huge number of software projects that were in development at any time inside the company. Bredehoeft formed Microsoft Application Services (MAS) during the birth of the application and the company later entered an OEM agreement with Microsoft Corporation. The idea originated from the vision of Ron Bredehoeft, a former IBM S/E and PC enthusiast in the early 1980s, to express the recipe and all preparation for a breakfast of eggs Benedict in project management terms. 'Project' was an MS-DOS software application originally written in Microsoft 'C' (and some assembly) language for the IBM PC.

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