PROJECT is the default term for a group of similar issues.
NOTE: This default can be changed to reflect the items being tracked e.g. Clients, Application, Business Area etc. For more information see the section on Site Options - Name for "Projects"
It is often desirable to separate issues into projects because each project can have a different process (Workflow), a different set of fields (Data Entry Form), and a different group of users that are part of that project team.
Separate projects also allow for more refined reporting on issues.
You can create as many separate projects in RMTrack as you require.