ManosM @ instructables.com has build a portable ultrasonic range meter based on ATMega328 mcu and LCD display.
This device is a small, portable ultrasonic range meter using an ATMega328 microcontroller, an ultrasonic module and a 4×20 LCD for ranging distances in meters and inches.
Portable Ultrasonic Range Meter – [Link]
Which ultrasonic sensor is being used for the project? Is is the same one as the one described on electronics tutorials