"Projects" and "Releases" as applicable to Zephyr are explained here and this will allow you to make a determination of how you want to organize them in your world.
"Projects" can be long running projects or product lines or IT systems that have multiple "Releases" or Versions or Phases or Sprints contained within them. For example, you could organize a Waterfall-based project as such:
Project A
Release 1.0
Release 2.0
Release 2.1 patch 1
Release 2.1 patch 2
Release 3.0
or like this for an Agile-based project:
Project B
Sprint 1
Sprint 2
Sprint 3
Final Sprint
A new project can be started by the Test Manager via the Project Setup application in the Test Manager's Desktop. A project needs at least one resource (Test Lead or higher level resource with a custom role that has access to Test Repository, Test Planning, and Test Execution). Custom Roles can be added via Custom Roles and Resources can be added via the /wiki/spaces/ZE6/pages/149454853 Resource Management application.
Once project details are added and saved, a project space is created and Test Leads and Testers can log in and access this project space. Test Leads can then create new "Releases" for these projects.
The following things are automatically created on starting a new project:
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