Over the past decades, project-based interventions directed towards unemployed and poor people in identified ‘deprived’ neighbourhoods have become a well-established practice within the EU. In the Swedish context, the objective to break segregation and end social exclusion has generated, and continues to generate, hundreds of projects directed towards certain targeted groups and so called problematic and vulnerable areas. Drawing from empirical studies of EU-funded labour market projects in Malmö, Sweden, the argument brought forward in this chapter is that these projects become practically operational and morally justifiable and legitimate through three acts of translation; framing, calculation, and arrangements of visibility. Using these processes of translation as methodological tools, the ambition is to offer a critical analysis of projectification that is theoretically reflective, empirically anchored, and politically motivated. The chapter illustrates the sometimes-contradictory and politically problematic nature of the inner workings of projects, both in terms of how they are motivated and articulated, financially constructed, and promoted.