|I believe you need to join the table to a subset of itself.
You create a subquery that gives you the values of project and the highest col1 and attribute that to a temptable. You then join you orignal table to your temp table on the values of col1. This should do the trick!
SELECT PT.* FROM out_pumptable PT join
(select project, max(col1) as MaxVal from out_pumptable group by project) TEMPTABLE1 on TEMPTABLE1.MaxVal = PT.col1