We recommend that you assist your organisation or business with a single project. A single project simplifies administrative duties and allows for the best possible cross-link object experience.
Even if you have a large number of teams working on hundreds of different applications and software projects, you can manage them all in one project. A project's purpose is to keep data contained within it separate from the rest of the world. It's difficult to transfer data between projects. You usually lose the history associated with data when you move it from one project to another.
As a result, it is suggested that you use a single project with several repos and teams, depending on your situation. This official document provides more information.
In the following cases, you might want to add another project:
To restrict or govern who has access to the information included in a project.
To enable your organization's bespoke task tracking methods for certain business areas
To support completely independent business units with their own set of administrative regulations and administrators
To aid in the testing of customization operations or the addition of extensions before making changes to the live project.
To assist with the development of an Open Source Software (OSS) project