The article examines the innovative activity parameters of industrial enterprises in the Russian Federation, studies the main development trends. The dynamics of the main indicators of industrial organizations subdivisions carrying out research and development are presented and the main types of applied innovations are identified. Also, the costs of technological innovations and the sources of their financing were analyzed within this studys framework. The main reasons for the decline in industrial enterprises innovative activity are listed. In addition, the main trends influencing the development of industrial enterprises were presented. The directions of improving the innovative activities management system of industrial enterprises are grounded on the basis of the project approach use. The general characteristics and properties inherent in an innovation and a project are presented. Domestic enterprises awareness of project management prospects will contribute to their sustainable growth and innovation activity indicators improvement.