diff --git a/src/plugins/qbsprojectmanager/qbsnodes.cpp b/src/plugins/qbsprojectmanager/qbsnodes.cpp
index a2acaaa4727..e2f96cef129 100644
--- a/src/plugins/qbsprojectmanager/qbsnodes.cpp
+++ b/src/plugins/qbsprojectmanager/qbsnodes.cpp
@@ -768,12 +768,19 @@ bool QbsProjectNode::addFiles(const QStringList &filePaths, QStringList *notAdde
     return prd ? prd->addFiles(filePaths, notAdded) : false;
 }
 
-void QbsProjectNode::update(const qbs::Project &prj)
+void QbsProjectNode::setProject(const qbs::Project &prj)
 {
-    update(prj.isValid() ? prj.projectData() : qbs::ProjectData());
     m_qbsProject = prj;
 }
 
+void QbsProjectNode::update()
+{
+    if (m_qbsProject.isValid())
+        update(m_qbsProject.projectData());
+    else
+        update(qbs::ProjectData());
+}
+
 void QbsProjectNode::update(const qbs::ProjectData &prjData)
 {
     QList<ProjectExplorer::ProjectNode *> toAdd;
@@ -808,8 +815,6 @@ void QbsProjectNode::update(const qbs::ProjectData &prjData)
 
     removeProjectNodes(toRemove);
     addProjectNodes(toAdd);
-
-    m_qbsProjectData = prjData;
 }
 
 QbsProject *QbsProjectNode::project() const
@@ -829,7 +834,7 @@ const qbs::Project QbsProjectNode::qbsProject() const
 
 const qbs::ProjectData QbsProjectNode::qbsProjectData() const
 {
-    return m_qbsProjectData;
+    return m_qbsProject.projectData();
 }
 
 bool QbsProjectNode::showInSimpleTree() const
diff --git a/src/plugins/qbsprojectmanager/qbsnodes.h b/src/plugins/qbsprojectmanager/qbsnodes.h
index 60d08486c5a..1640a043100 100644
--- a/src/plugins/qbsprojectmanager/qbsnodes.h
+++ b/src/plugins/qbsprojectmanager/qbsnodes.h
@@ -171,8 +171,9 @@ public:
 
     bool addFiles(const QStringList &filePaths, QStringList *notAdded = 0);
 
-    void update(const qbs::Project &prj);
-    void update(const qbs::ProjectData &prjData);
+    void setProject(const qbs::Project &prj); // This does *not* update the node tree!
+
+    void update();
 
     QbsProject *project() const;
     const qbs::Project qbsProject() const;
@@ -182,13 +183,14 @@ public:
 private:
     void ctor();
 
+    void update(const qbs::ProjectData &prjData);
+
     QbsProductNode *findProductNode(const QString &name);
     QbsProjectNode *findProjectNode(const QString &name);
 
     QbsProject *m_project;
 
     qbs::Project m_qbsProject;
-    qbs::ProjectData m_qbsProjectData;
     static QIcon m_projectIcon;
 };
 } // namespace Internal
diff --git a/src/plugins/qbsprojectmanager/qbsproject.cpp b/src/plugins/qbsprojectmanager/qbsproject.cpp
index 7821fa4aaf2..46cdcfab84d 100644
--- a/src/plugins/qbsprojectmanager/qbsproject.cpp
+++ b/src/plugins/qbsprojectmanager/qbsproject.cpp
@@ -291,22 +291,11 @@ void QbsProject::handleQbsParsingDone(bool success)
         m_qbsUpdateFutureInterface = 0;
     }
 
-    if (project.isValid()) {
-        // Do not throw away data when parsing errors were introduced. That frightens users:-)
-        m_rootProjectNode->update(project);
+    if (project.isValid())
+        m_rootProjectNode->setProject(project);
 
-        updateDocuments(project.isValid() ? project.buildSystemFiles() : QSet<QString>() << m_fileName);
+    readQbsData();
 
-        updateCppCodeModel(m_rootProjectNode->qbsProjectData());
-        updateQmlJsCodeModel(m_rootProjectNode->qbsProjectData());
-        updateApplicationTargets(m_rootProjectNode->qbsProjectData());
-        updateDeploymentInfo(m_rootProjectNode->qbsProject());
-
-        foreach (Target *t, targets())
-            t->updateDefaultRunConfigurations();
-
-        emit fileListChanged();
-    }
     emit projectParsingDone(success);
 }
 
@@ -361,6 +350,28 @@ void QbsProject::delayForcedParsing()
     delayParsing();
 }
 
+// Qbs may change its data
+void QbsProject::readQbsData()
+{
+    QTC_ASSERT(m_rootProjectNode, return);
+
+    m_rootProjectNode->update();
+
+    qbs::Project project = m_rootProjectNode->qbsProject();
+    updateDocuments(project.isValid() ? project.buildSystemFiles() : QSet<QString>() << m_fileName);
+
+    qbs::ProjectData data = m_rootProjectNode->qbsProjectData();
+    updateCppCodeModel(data);
+    updateQmlJsCodeModel(data);
+    updateApplicationTargets(data);
+    updateDeploymentInfo(project);
+
+    foreach (Target *t, targets())
+        t->updateDefaultRunConfigurations();
+
+    emit fileListChanged();
+}
+
 void QbsProject::parseCurrentBuildConfiguration(bool force)
 {
     if (!m_forceParsing)
diff --git a/src/plugins/qbsprojectmanager/qbsproject.h b/src/plugins/qbsprojectmanager/qbsproject.h
index 45cee112e80..e7d6e691463 100644
--- a/src/plugins/qbsprojectmanager/qbsproject.h
+++ b/src/plugins/qbsprojectmanager/qbsproject.h
@@ -108,6 +108,7 @@ public slots:
     void invalidate();
     void delayParsing();
     void delayForcedParsing();
+    void readQbsData();
 
 signals:
     void projectParsingStarted();