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The final year project is an important part of obtaining a Graduation certificate in scientific and engineering universities. To ensure high quality in the completion of graduation projects, the project allocation process must be efficient and fair among students. Optimum allocation of graduation projects ensures a great experience for students and exceptional learning of new technologies from that projects, which may contribute to expanding students' future horizons. In this work, we review a wide range of research for the allocation project strategies that are used in various universities, in addition to the factors that have an effective impact on the selection of graduation projects by students. We also highlight the problems that these strategies tried to solve, in addition to those that they failed to solve. Finally, we present a modern idea to overcome too many problems that were presented in the literature discussion where the proposed system is based mainly on the student development level during the study stage.