create a new Morphx Development project

Project: A project is a subset of the Application Object Tree (AOT) that allows you to group the application objects you are currently working on. Everything that you create, delete, or modify in your project is automatically created, deleted, or modified in the AOT.

there are two types of project in axapta. 1.private 2.shared.
in axapta hit ctrl+shift+p


Private projects are only available to the user who created them.
Shared projects are available to all users and can be used as a tool for work groups to manage their work. A number of shared projects are supplied with your Microsoft Dynamics AX installation.

The advantages of using projects include:

• They provide an overview of the application objects you are currently working on.
  
• Changes made in the project are automatically reflected in the AOT. Similarly, if changes are made to an object in the AOT, these changes are reflected in any project that the object exists in.
  
• You can group application objects in different ways within a project, for example, by the user or by the team responsible for the object.
  
• Projects can be generated automatically by using the project filter or the properties of the project group.
  
• The project remembers the state you last left it in: which windows were open, which branches were expanded, and so on. This state is saved separately for each individual user.
  
• You can compile and save all objects within a project in one operation.

How to Create a MorphX Development Project :
http://msdn.microsoft.com/EN-US/library/aa589339.aspx