Serious_Noize!
Thanks everyone for the information and comments. 
 
So when you are done with your project you just select "Save" to save the .CWP to the project folder  and copy the project folder to your backup location to back it up?
 
 
 

 
Yes. You can also plug in your external drive and use "save as"   browse to the external and make sure you check the "copy Audio with project" box.  This should also be a routine when working on important songs. 
 
What I'm doing right now is using One Drive and saving just the CWP which are 100% midi tracks at this point. I do this so I can work on the songs on 2 different computers.  When I have the backing track perfected I "save as" to the  Sonar Data drive on my main DAW and start recording the audio.  
I found out you can't record audio directly to One Drive, it will crash Sonar. It would suck up my limited bandwidth anyhow. 
 
I'm in the habit of copying  all the projects I was working on to a back up drive at the end of the day.