It's often helpful to codename a project that a team is working on. This has many benefits including secrecy of the product being developed (hiding it from competitors), giving a common and, perhaps, interesting name to the project, and giving the company/team a lot of time to decide on a good product name while it's under development.
Here are some codenames Microsoft have used for their products:
And here are some used by Apple:
Thinking of great project codenames may not be as easy as it seems. So help comes along. Here's a link to a Web Site that generates cool codenames in a military-oriented way but they can be used for any sort of project. Here's the link: http://ubique.ch/codename/