1. A method for automated transferal of project data for a project wherein a plurality of entities are involved in the project, comprising the steps of: providing a user interface configured to accept user identification information, user defined fields for activities in the project schedule, user defined activity codes, cost codes and project data from said plurality of entities, wherein said user interface employs said user defined fields for input and identification of one or more types of said project data, providing a project management application operably linked to said user interface, wherein said project management application receives the project data, user defined data fields, cost codes and user defined activity codes from said user interface, assigns user defined fields to activities in the project schedule and includes a transferal module configured to process the project data from multiple entities in order to relate the project data, cost codes and user defined activity codes to data keys in the transferal module, selection criteria for selecting a subset of said project data based on said user identification information and said user defined fields, and information about hierarchical levels for at least two of said multiple entities, providing a computer system having stored therein said project management application, said computer system comprising a memory and a processor, receiving and storing the project data in a project management database at said computer system, receiving said user identification information at said project management application from said user interface, said processor processing the project data from multiple entities to relate the project data to data keys in the transferal module, said processor applying said selection criteria of said project management application to create a subset of the project data based on said user identification information, said information about hierarchical levels and said user defined fields, wherein the subset of the project data is related to data keys in the transferal module for viewing by each entity identified by said user identification information, said processor processing the information transferred to each entity to convert terminology or coding identifying an attribute of the project, an activity or a resource, said terminology or coding being used by the project management application for describing a portion of the project data to terminology or coding including said user defined activity codes and cost codes used by at least one said entity, wherein the processor permits presentation or summarization of project data using hierarchical codes specific to one of a plurality of hierarchical levels within at least one said entity, cost codes and said user defined activity codes, and said computer system transferring the created subset of the project data selected and converted for a particular user to the particular user in one or more of said plurality of entities.