What's in a project?
A Package… and a Project element.
If you are using portfolios too, the project package is created as a child of the portfolio. Everything in the Project Package is locked for access only by modellers in the project team.
When you create a package using Portfolio Manager, a Project element is automatically created in there too, set up with the TVs and status that are needed to support all the Portfolio Manager project and portfolio level insights.
For more information see Create a project