You can load it into a DataSet with the DataSet's ReadXML method or Load it into an XMLDocument and use the SelectSingleNode method to get what you need.
VB Code:
'load into a DataSet
Dim ds As New DataSet()
ds.ReadXml("..\xmlfile1.xml")
MsgBox(ds.Tables(0).Rows(0)("name"))
'load it into a XMLDocument
Dim xdoc As New Xml.XmlDocument()
xdoc.Load("..\xmlfile1.xml")
Dim xNode As Xml.XmlNode = xdoc.DocumentElement.SelectSingleNode("/project")
MsgBox(xNode.Attributes("name").Value)
*Also you need an = sign in here [attribute "myattribute"]