You can make new Projects on the time tracking field and on the Projects page. You can assign Tasks to Projects..

Creating a projects First, click on the Add new project button

Or choose option Add new project from time tracking field

Next, add the name of your project in the ‘Project name…’ field. You then have the option of selecting a color tag and you can set the privacy of this project by choosing selected team members or mark it as "Anyone in the team" to make it visible for the whole team..