There are two issues here. First, Office iwsn't 'natively' available on the iPad. There are people out there who claim to be able to install Office on the iPad, but their approach isn't straightforward.
However, if you look here:
you'll see that it may become officially available later in the year. I wouldn't 100% bank on it, though.
However, this thread
seems to indicate that you can indeed project PowerPoint slides from an iPad. You'd need to source an appropriate connector - something like this:
If the iPad has a significant issue, it's its lack of connectivity (e.g. no USB, AFAIK).