Hey Amanda, I don't think it's an out of the box feature, but our Salesforce Admins have built a pretty robust tool for project management. We were previously using Basecamp, but we've switched over to just our SFDC Projects tool.
We have project detail sections with the overview, individual task manager with all open activities and who they're assigned to, as well as all completed activities, and Chatter and notes/attachments for communication. I believe there's also functionality baked into the calendar for an overall project overview, but I haven't used it much.