Project templates are the standard method, but I now just save blank CWP projects.
Mostly now I use Track templates which can quickly populate a blank new project.
If I'm going to record a live band I make a CWP project that has all the tracks/ inputs/outputs ready to record and save that over and over as many songs/ sets as will be needed. Using "Save AS" I name each Song 1 Set 1 etc. put them all in a folder. You can open a lot of projects and minimize them to the bottom. I had 20 open one night.