Which version are you using? There is Lightroom 3.2 which stores everything in the cloud. Or Lightroom Classic 9.2 which stores everything in a desktop catalog on the computer hard drive. V9.2 has some ability to save projects e.g. a saved book collection which will save the pages and assets used. Or a saved print which will preserve the settings and layout. But this is very different to Premiere Pro where you create a project for every video in order to assemble the sequences. You can of course create albums (collections) & folders to organize your work.
Um, I think the cloud version (its the shortcut icon with round corners).. Yesterday was my first time to ever open the software. I'm figuring out the editing features but in terms of saving progress to a hard drive (ie project files) I'm completely lost. Lightroom doesn't seem to follow any of the structure that the other CC apps use.
Other than that I absolutely love the software! Photoshop has made me want to rip my hair out for years lol. The workflow/layout in Lightroom is incredible in comparison.