Quick Base supports native Sync to Gmail and Outlook. If you can arrange to have emails forwarded to say a gmail account for this purpose and can ensure that say the Subject field includes the Project# in a standard format like Project# 1234, then you can have a Report Link field on the Project record display relevant emails.
It will not be a true relationship, but you do not need to have a true relationship to have a Report Link field and the matching does not have to be exact for a report link field to work. There is a a setting for that on the report link field. ie the subject can read "Cost overruns on Project# 1234" and that is good enough to get a fuzzy match against Project# 1234