The reduced dynamics of two interacting qubits coupled to two independent bosonic baths is investigated. The one-excitation dynamics is derived and compared with that based on the resolution of appropriate non-Markovian master equations. The Nakajima-Zwanzig and the time-convolutionless projection operator techniques are exploited to provide a description of the non-Markovian features of the dynamics of the two-qubit system. The validity of such approximate methods and their range of validity in correspondence to different choices of the parameters describing the system are brought to light.