I just recently received my new Acronis True Image 2014 (upon recommendation from my PC Builder, see signature).
It is quite the program, and I need to dig in to determine what is the best route for me, with regards to an entire "disaster recovery" plan, as Acronis calls it.
For project work...I create a master folder with a date and description. I place any relevant projects in that folder based on what was tracked on that date. Basically, if I know I am going to be tracking, I create a master folder, then I create sub-folders for however many projects I might be tracking. There are some times where my band will have an "idea" session, where we bring ideas to rehearsal and bounce them back and fourth, and I will track all of that, and create sub-folders for each idea, and then place them into the master folder...etc. etc. I then back up the entire "Cakewalk Projects" folder from the system's internal HD onto three different external HDs, one Glyph, one Lacie, and one Seagate.
I am sure there is a better way, as I am new to this, but it works for now.