1) A project is more clearly defined as something that the creators intend an eventual completion. Or, perhaps better, a project is something that has a hard ship date. A project is not necessarily successful: that is, it may fail to make that ship date. If it fails, it may fail in such a way that it never completes. That is the worst case scenario: your money went into a black hole.
2) There's a difference between crowdsourcing and crowdfunding. Crowdsourcing is a riff off "outsourcing"; it's using "the crowd" to accomplish tasks. Crowdfunding is a specific instance of this, in which the task is "give me money".