Once you’re finished with a Project, you can archive the project. This will not free up any storage but it will make the contents and any linked presentations inactive so that your teams know the project is no longer in use. Once archived you may delete the project to clear up some space.
You may want to download your Project files and back them up before you archiving the Project, in the event another user deletes the project. Here is how to do so:
Click the “Home” button in the Project menu on the left.
Click the “Archive Project” button at the bottom of the page.
To see a list of all Archived Projects:
1. Go to the Main Projects page.
2. In the search bar there is a drop-down menu, click "Archive"