Yep- your question requires a basic understanding of the Library structure before getting into workflow. But generally speaking if you want each of your projects to live in its own hard drive separate from all others, then starting with a Library and placing media inside it will allow you to achieve what you want. That said, FCPX is actually much more flexible and automated in terms of asset tracking than 7 was so it’s worth spending some time learning its advantages vs. attempting to 1:1 recreate your prior workflow.
Noah
FCPWORKS – FCPX Workflow
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