The project method is a way of organizing and activating students' self-work or a creative approach to solving a specific problem situation. The project method allows solving many educational tasks and creates conditions for communicative interaction of students studying a foreign language (English) in the process of active cognitive work. In this article the author considers the method of projects that provide the following opportunities: 1) development of students' ability to think independently; 2) formation of skills to use theoretical knowledge in solving creative problems; 3) help to increase student's motivation; 4) improvement of students' language potential; 5) development of students' communicative competence on the basis of cooperation in doing self-work; 6) development of the student's creative potential in performing individual tasks. 7) increasing the student's self-esteem in the learning process. In addition, the author of this article defines the functions of independent work based on the research of a number of methodologists: developing, informative, stimulating, research and educational. In this article the author dwells on the special role and functional position of the teacher in the organization of students’ self-work as the assistant and adviser. Based on the practical materials of the article’s author, the stages of inserting and implementation of the project method as a way of organizing and activating students' self-work were determined.