The article substantiates the relevance of the issues of motivation and stimulation of the activities of project team members, due to the high significance of motivation and involvement of project team members from the point of view of achieving the final results of project activities. The staff is one of the most important resources of the team, because only the presence of employees with the necessary professional and personal qualities, united by common values, will ensure effective teamwork to achieve the goals of the team. The article examines the specifics of the motivation of project team members, considers the possibilities and limitations of using well-known motivational theories to motivate the project team; systematizes typical mistakes of project managers when motivating team members and ways to overcome them; offers recommendations for increasing the motivation of project team members; it is shown that the complex and multidimensional motivation of project team members necessitates the use of a full range of directions and methods of stimulating their activities, including material (monetary and non-monetary) and non-material incentives.