You can set the status of a project as Upcoming, In Progress, Complete, or Archived if you want to exclude a project from appearing on the project selector. To change a project's status, please refer to the steps below.
Go to Settings
Select Projects
Select the project you want to update the status of
On the right of the screen you will see a section to edit the project
Select the current status to change
The status will update every time you change it, no need to save!