project = another way of defining an environment (could be a package)
where
environment = a collection of directories where Julia looks for Project.toml files to resolve dependencies.
Then
package = a directory with a Project.toml and a bunch of other standardized things that make the code contained inside it self-contained and reusable. See Code Loading · The Julia Language
project = also a directory with a Project.toml, but not necessarily all the other stuff that defines a package.
This would be a good opportunity for those who really understand the details to correct what I just wrote.