I saw this posted in a support forum …..

I can't create New Project on my Visual Web Developer 2008 Express with SP1.
(I can only create New Website)

My colleague has the exact same version (if you go to Help - About) but they can create both New Website and New Project.

Did you install Visual Web Developer with SP1 and NOT get the “New Project” Options.

I did ! :)

Here is the fix.

 Go to “Tools –> Import and Export Settings.

 Select the BOTTOM Option “Reset All Settings”

Click next and complete the wizard.

That’s it - “Projects” should now appear in your default view !