1. First thing is research their area of field and choose a best project topic from this fields. Initially, two or more topics can be chosen.
2. Then Collect the relevant materials and make a file.
3. Third things is, discuss the chosen topics with the guide or supervisor and clarify doubts if any
This will make a focus on the fine tuning of the topic of interest.
4. Then make a complete sketch of your overall project. This may be of block diagram or signal flow graph
5. Then design a circuit relevant to your project
6. Testing of your project is another major step. You can make a test initially with a software relevant to your project before doing a hardware. This will save your time and cost.
7. Prepare a proper time schedule for doing steps 4, 5, 6.
8. Keep a constant touch with your guide in discussing your projects, so that you can fine tune your hardware project more successful.
9. Finally Document your project and submit as a project report
10. If you do all the above steps, you will rewarded with good marks. You can also get good opportunities from core companies in near future as you do the project yourself.