Don't let the strangely low rating on IMDb fool you folks. This movie is an entertaining mixture of a dinosaur movie and a "found footage" film. If you liked Jurassic Park and Paranormal Activity then I think you'll enjoy this movie, it's got elements of both intertwined within.
However, don't make the mistake of believing that it's trying to copy either of those movies, it stands out on it's own and is quite unique in many respects. It's highly advisable to not watch The Dinosaur Project with the expectation of seeing Jurassic Park 4, you'll almost certainly be disappointed. Instead, view it as a different twist on the whole dinosaur theme.
It's got moments of humor, moments of horror and 5 different species of satisfying CGI dinosaurs (a few more species would have been nice). There are quite a few great dinosaur shots, including one scene where a dinosaur is filmed from first person perspective while swimming with it's siblings, which I thought was very well done. There are scenes with flying dinosaurs, swimming dinosaurs and land-based dinosaurs, so there's quite a mix of dinosaur material incorporated.
The acting is about average for today's standards, there's a mix of good moments and not so good moments, it's really nowhere near as bad as one of the other reviewers has mentioned, all the actors did an adequate job. I've seen a lot of big budget Hollywood movies with acting that was far, far inferior to this. None of the actors deserve awards for their performances but they all (story-permitting) deserve to be rehired for the sequel.
And one thing to mention is the camera work, I thought it was filmed exceptionally well with some very inventive usage of the first-person perspective, nicely mixed with third-person shots. I was actually hugely impressed at how well it was filmed for the constraints that a "found footage" film puts on the director. From a technical point of view, it's probably one of the best examples of the genre in my opinion. I'm not really a fan of "found footage" film as such, but this movie is a brilliant example of how to use it effectively. And there are a number of people with cameras in the movie, so we get to see different camera angles too.
By no means is it perfect though, there are moments in the movie which are implausible and the scripting could have been improved in places. But I could say the same for a lot of movies I've seen, and many of them are, again, big budget Hollywood blockbusters. This movie isn't trying to teach you about dinosaurs, it's not scientifically precise, it's not trying to emulate the epic nature of the Jurassic Park franchise. All it's trying to do is entertain you, in a sort of pop-corn flick fashion. At the same time however, it's unique, absorbing and well-directed.
With a somewhat open-ending, I'd definitely be interested in watching part 2 if it ever gets produced. Remember, it's not Jurassic Park, it's a different spin on the dinosaur theme but with understandably similar consequences of human and dinosaur coexistence.
If you're a fan of anything dinosaur-related then this is a movie you don't want to miss. Just go into it with low expectations (like I did after seeing the low IMDb score) and you'll probably be pleasantly surprised. I give this one a 6.5.