If you have not supervised before, here are the key points you should know.

1. The main point is that the project modules are, 
in terms of aims and content, much like undergrad project modules
anywhere else - and so like the one you probably did yourself as an 
undergrad.

2. If all else fails, all you need to know is in the project handbook.
(To be found here on my projects webpage, and also on the VLE.)

3. Assessment is led by a third party assessor (one of your colleagues - 
I will tell you who it is some time before the interim report deadline - you are
welcome to suggest assessors for your projects at the outset, if you want).
There will be an opportunity for the supervisor to contribute to the final 
assessment decision on the project immediately after the viva.
(See also the mark sheet for your other inputs.)

4. Deadline Dates: There is an interim report date (student submits a short
progress report; you pass it to the project assessor; the assessor gives the student
and yourself some constructive feedback as appropriate shortly thereafter
 - see also the guidance to assessors on this webpage).
There is a final report submission date.
- Find these in the handbook, of course. (Or ask me, any time.)
There is a viva date and time. These are usually fixed shortly after the report
submission. See the handbook for the time-frame in which they fall.
(Obviously you will need to be in Uni to attend your student's viva.)