Folders can be used to organize the contents of the repository. For example, you could create different folders for each of the subject areas, or teams working on a project. Folders can be useful for organizing permissions, as any documents checked in in a folder inherit its permissions.
You must have write permission on the location where you want to create the folder.
A project behaves in a similar fashion to a folder. You can rename a project, delete it, freeze it, or use it to grant access permissions, etc. as for a repository folder. For information about creating a project, see the Projects and Framework Matrices chapter in the Core Features Guide.