Craft project (6)
I believe the answer is:
launch
I believe this is a double definition.
'craft' is the first definition.
(launch is a kind of craft)
'project' is the second definition.
(I've seen this before)
(Other definitions for launch that I've seen before include "pleasure-boat" , "Initiate; a boat" , "Craft - project" , "Inaugurate" , "Send a vessel into water" .)