Your projects maybe client specific or function specific or region/city specific. Would it not be nice to have them nicely organized? What do you do with projects which are complete? Do you really want to delete projects that are completed? These are the questions that we want to address.
Example: Digital Marketing Agency
An agency which works on several initiatives/projects for multiple clients. They would probably want all projects for a client under a single folder; so they will create a folder for each client and keep projects under it as shown below.