diff --git a/CHANGELOG.md b/CHANGELOG.md
index c7d86f7af..c47621a46 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,7 +2,26 @@
 All notable changes to this project will be documented in this file.  
 This project adheres to [Semantic Versioning](http://semver.org/spec/v2.0.0.html).
 
-A list of unreleased changes can be found [here](https://github.com/SAP/ui5-project/compare/v3.0.0-alpha.2...HEAD).
+A list of unreleased changes can be found [here](https://github.com/SAP/ui5-project/compare/v3.0.0-alpha.3...HEAD).
+
+<a name="v3.0.0-alpha.3"></a>
+## [v3.0.0-alpha.3] - 2022-06-14
+### Breaking Changes
+- Implement Project Graph, build execution [`161f462`](https://github.com/SAP/ui5-project/commit/161f462cf6a9955337fff512007125128c6c39dd)
+
+### BREAKING CHANGE
+
+* normalizer and projectTree APIs have been removed. Use
+generateProjectGraph instead
+* Going forward only specification versions 2.0 and higher are supported
+    * In case a legacy specification version is detected, an automatic,
+      transparent migration is attempted.
+* Build:
+    * The "dev" build mode has been removed
+    * The task "generateVersionInfo" is no longer executed for
+      application projects by default. You may enable it again using the
+      includedTasks parameter
+
 
 <a name="v3.0.0-alpha.2"></a>
 ## [v3.0.0-alpha.2] - 2022-04-26
@@ -282,6 +301,7 @@ Renamed parameter "translator" of functions generateDependencyTree and generateP
 - **npm t8r:** Fix collection fallback with missing package.json [`578466f`](https://github.com/SAP/ui5-project/commit/578466fdedf871091874c93d1a9305859e34e3ed)
 
 
+[v3.0.0-alpha.3]: https://github.com/SAP/ui5-project/compare/v3.0.0-alpha.2...v3.0.0-alpha.3
 [v3.0.0-alpha.2]: https://github.com/SAP/ui5-project/compare/v3.0.0-alpha.1...v3.0.0-alpha.2
 [v3.0.0-alpha.1]: https://github.com/SAP/ui5-project/compare/v3.0.0-alpha.0...v3.0.0-alpha.1
 [v3.0.0-alpha.0]: https://github.com/SAP/ui5-project/compare/v2.6.0...v3.0.0-alpha.0
diff --git a/package-lock.json b/package-lock.json
index 4f1136326..ab2923120 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -1,12 +1,12 @@
 {
 	"name": "@ui5/project",
-	"version": "3.0.0-alpha.2",
+	"version": "3.0.0-alpha.3",
 	"lockfileVersion": 2,
 	"requires": true,
 	"packages": {
 		"": {
 			"name": "@ui5/project",
-			"version": "3.0.0-alpha.2",
+			"version": "3.0.0-alpha.3",
 			"license": "Apache-2.0",
 			"dependencies": {
 				"@ui5/builder": "^3.0.0-alpha.7",
diff --git a/package.json b/package.json
index 81cb0165e..629b7ef49 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
 	"name": "@ui5/project",
-	"version": "3.0.0-alpha.2",
+	"version": "3.0.0-alpha.3",
 	"description": "UI5 Tooling - Project ",
 	"author": {
 		"name": "SAP SE",