When running the same project year after year, it's more convenient to duplicate an existing project than to re-create the project again from scratch. Duplicating a project makes a copy of the project and all of its settings, jobs, locations, custom fields and delegations. It does not re-register the same people as were registered in the original project: the new project starts out with no people in it.
Steps in this task
From the Projects panel, right-click on the project you want to duplicate.
Select Tools and then Duplicate from the menu.
Enter the name for the new project. VSys will default the new name to "(copy of XXX)", then click OK. VSys will now make the new project.
Edit the new project's settings by right-clicking on it and selecting Setup then General. At a minimum, you'll need to set the dates and other basic properties of the project to match this year's version.