Presumably we'll want one project per quarterly goal, as we have had in the past. Note the new rules for project creation: https://www.mediawiki.org/wiki/Phabricator/Creating_and_renaming_projects#Creating_new_projects
It seems that the old ones like TPG-FY2016-17-Q1-Identify-Common-Pain were of type "component", but I think type "goal" would be more appropriate. See https://www.mediawiki.org/wiki/Phabricator/Project_management#Types_of_Projects.