One of my projects was cancelled very early on - will this be detrimental to my career? How do I speak of it on my CV? I recently started work as a PM, leading part of a large, long term (18mo+) project. After working on the project for 2 months, performing essentially requirements gathering and staffing work, the funding for the project was stopped, and all work was suspended, indefinitely. Since I had been brought on specifically to work on this project, my contract was terminated as a result. Will this be a bad mark on my track-record? How do I speak of it as I seek other employment?

'Terminated due to budget cuts' - happens all the time, nothing to be ashamed of.