This chapter presents the findings of a study that explored the perceived employability of project management students undertaking a capstone project in the final year of their four-year project management university degree. The study aimed to investigate how the capstone project contributed to students’ professional preparedness from the perspectives of students and mentors. In the beginning of the chapter we consider pathways into project management, draw on the literature to consider the concept of employability, and identify approaches to curriculum review. We then outline the method we used to collect data and present our findings. In the discussion we explore our key findings in the context of employability and consider how the capstone project can be revised to contribute more strongly to the preparedness of our project management graduates. It is anticipated that the findings of the study can be used to modify the curriculum underpinning the capstone course so that the perceived employability of students is enhanced and contributes to professional preparedness