Projects are for organizing your assets. They are like folders that you can use to group different types of assets including flows, workflows, connectors, document types etc. Flow are workflows can be created only inside a project.
Organizing projects can based on the guideline/best practices within your organization. There is no specific format as such. Examples could be. Grouping all Salesforce integrations in one project, or managing according to a business function like Payroll related integrations together etc.
Projects assets are internally stored within the tenant. To create a project from UI, click on the + icon in the webMethods Integration UI. Provide an appropriate name for the project. The Source Control option is available for tenants that have Develop Anywhere Deploy Anywhere enabled.
You can also create projects with APIs. Refer the document for more information IBM webMethods Integration APIs - IBM Documentation

Each project can have various components, Integrations, connectors, document types, App Connect Callable flows etc.

For tenants that have Develop Anywhere Deploy Anywhere enabled, you can create projects that store Develop Anywhere Deploy Anywhere assets in an external git provider. Presently github, bitbucket, gitlab and Azure Repos are supported. You can create a project with external git reference as below. Please keep in mind that
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The repository has to exists and should be empty before the project is created from wM.io.
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The repository name should end with Project in the name; example below screen wM.io name is RW_ExternalGit. Then repo name in the git provider has to be RW_ExternalGitProject.
It's a good idea to click on the open button once correct details have been updated to ensure the pat and name are correct.

Each Develop Anywhere Deploy Anywhere project has a corresponding Integration Server package created in the default runtime. You can navigate to this under the projects/Packages tab. The git information, details of assets, variables etc., can be seen here.

When you sync project/edge service to a runtime the entire project gets updated with the changes in the runtime. You can also see the project as an IS package inside the respective runtimes from the Integration runtime page.
On Create project and on commit of any DADA assets there are files and folders created in the external repo. The Scaffolding file under the config folder gives details of the git server, branch, edge flow services etc. in the project and also provide details of any on premise integration server packages that has been added into the project.
The Manifest file provides information about the project id created date and other properties. The documenttypes, edge flow services as such can be found inside the ns folder.
Deployment of assets from dev-> test are based on the projects. The publish project action allows assets to be deployed between stages. More details can be found here - Publish a project - IBM Documentation

For more such Article please check this link.
For more details refer to Product documentation on this topic at Projects - IBM Documentation
For details about DADA refer to What is Develop Anywhere, Deploy Anywhere?
For details about Integration runtimes, you can refer to Develop Anywhere, Deploy Anywhere: What are Integration Runtimes?
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Radhika Warrier
Software Development Manager
IBM
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