Project-based learning and multimedia involve students acquiring new knowledge and skills by designing, planning, and producing a multimedia product. The document discusses the key elements of project-based multimedia learning including having a core curriculum, real-world connections, an extended time frame, student decision making, collaboration, assessment of learning, and the use of multimedia in the final product. The benefits of this approach are that it helps students develop hard skills, soft skills, and computer skills that are important for today's jobs.