Use a hierarchical query using connect by
SELECT prj.ID AS PROJECT_ID,
prj.PARENT_ID as PARENT_ID
FROM PRJ_PROJECT prj
connect by prior prj.id = prj.parent_id
start with prj.PARENT_ID IS NULL;
To ensure that the root nodes come first, and then the children, you could extend the statement like this:
SELECT prj.ID AS PROJECT_ID,
prj.PARENT_ID as PARENT_ID,
connect_by_root id as root_project_id
FROM PRJ_PROJECT prj
connect by prior prj.id = prj.parent_id
start with prj.PARENT_ID IS NULL
order by connect_by_root id, level;
Here is an SQLFiddle: http://sqlfiddle.com/#!4/606a7/1