The project members dissected a fetal pig to observe its nervous system. They hypothesized that the nervous system would operate similarly in pigs and humans. During the dissection, they identified key parts of the brain including the cerebrum, cerebellum, and brain stem. The three membranes surrounding the brain - dura mater, arachnoid mater, and pia mater - were also observed. The conclusion was that the hypothesis was correct, as the human nervous system could be accurately observed in the fetal pig.