Graduate classroom teaching has an important role in the graduate training system, but numerous high-quality online courses and research pressures have challenged classroom teaching: where is the necessity and key to classroom teaching? This paper attempts to answer this question from the perspective of the project-based teaching mode, explore the theory of the project-based teaching mode, and discuss the teaching practice relying on the Enterprise Strategic Management course, with a view to adding to the existing literature and providing teaching practitioners with space and ways for further discussion.