When a Project or Subproject has been fully completed, it can be a good option to close that Project or Subproject out. Doing this changes the text and icon for the Project or Subproject in the hierarchy to light gray, and prevents any further automated communications to send out for the Project or Subproject and all entities beneath it.
To close a Project or Subproject out, click the toggle on the Project home tab labeled "Project Status" from "Open" to "Closed".
Note: Archiving a closed Project or Subproject using the button on the bottom right of the home tab will automatically hide them from your hierarchy view. All Contracts, and Subprojects must also be closed out and all Subprojects must be archived in order to do this.