Both begin and start convey the same things, but there is a key difference in their usage. Begin is more formal than start, and is more often used for new activities being undertaken by people, whereas start is less formal and is used often to talk about inanimate objects / machines or to 'cause' something. However, in this particular case start and begin are BOTH suitable as a project can be started (i.e created) or begun ( that is, from scratch). Thus both A) and B) are acceptable answers. All the other options are inappropriate.