The paper mainly aims to characterise project management (PM) practices of industrial Lean initiatives by analysing and comparing three main topics: PM approaches, PM teams, and project alignment with the company’s strategy. This research encompasses two exploratory industrial case studies with an extensive literature review. Key professionals were interviewed to obtain an in-depth vision of the field. The study results allowed characterising project management practices of industrial Lean initiatives in industrial companies based on the following dimensions: 1. Understand the needs; 2. Find a suitable team; 3. Use visual tools; 4. Apply a continuous improvement (CI) approach; 5. Identify KPIs for the context; 6. Get support from the top management. This work fills a gap related to studying the PM practices applied during the implementation of Lean initiatives, proposing a schematic representation of PM variables and actors in industrial Lean initiatives. Identifying the main variables and actors that industrial companies use to develop Lean initiatives can be insightful for Lean practitioners in the context of project management.