The assignment content is about creating a small LAN (Local Area Network) with multiple devices such as PCs, switches, and a router. The network configuration includes IP addresses, subnet masks, default gateways, VLANs, and interfaces. The commands used to manage the network include saving configurations, verifying connectivity, tracing routes, displaying saved configurations, and displaying routing tables. The assignment also includes question and answer sections where students discuss the most difficult part of the project and their confidence level in building such a network.