The Duplicate Project Window (figure) allows for a new Project or a new Project revision to be created basing on an existing one. Both operations will create a new instance of the Project selected but New revision of existing Project requires that a new revision name be provided (the old name will be preserved). New Project requires that both a new name and a new revision name be provided for a Project. In both cases the new Project will inherit all the contents of the duplicated Project and all the properties except Project ID (that must always be unique) Project Version (that will be reset to 1) and Build Number (resets to 1).
For more information, see How to Duplicate Project.