Large language models (LLMs) are being incorporated into project management practices across organizations with varying levels of maturity. This work has the objective of identifying their main applications, perceived benefits, and emerging challenges in project contexts. The research combines a non-systematic literature review, which highlights the rapid expansion of studies on generative AI in project management, with a qualitative empirical investigation based on semi-structured interviews with five companies of different sizes and industries. Through open and axial coding, seventeen categories of LLM applications were identified, including operational task automation, communication and collaboration support, knowledge management and expansion, innovation and ideation processes, training and development, and reporting and documentation.