SmartSVN internally manages your SVN working copies by 'SmartSVN projects'. A SmartSVN project (subsequently only referenced as 'project') points to a local SVN-controlled directory and has a name and some settings (Project Settings) attached to it. When working with SmartSVN, you are always working with a project.
Projects can be created in different ways from the Project menu. To create a completely new project from a not-yet-version-controlled local directory, use Create Module (see Create Module). This will also create the corresponding directory (module) in the repository. If you want to create a local working copy from a project which already exists in a repository, use Check Out (see Checkout). To create a project from an already versioned local directory, use Create from Directory and specify the local SVN-controlled directory.
One main window always refers to one project. To work with multiple projects at the same time, you can open multiple main windows by clicking Window|Open New Window. Already managed projects can be opened in a main window by Open or closed by Close.