[fuzzbang]

You have to be more specific than that. These days information security is a huge field. Network security is a misnomer since almost no one works on "network security", which is about protocols not applications / operating systems.

I'd suggest being more specific about what sort of project you're interested in. Will you be doing original research on the size of botnets (you and everyone else in the world); maybe write a tool for something, I'd suggest writing a real webapp security assessment tool. I hate doing web app assessments. Another thing that would be really useful would be collaborative information sharing during a pen test (I've put a lot of thought into this one and could give you more pointers)...

If you want to play it safe, just write another fuzzer. Everyone writes fuzzers. Or you could write some VoIP security tools.