First I created a new place: "Projects List" -- always open, not included in any other place.
Now here's my template for any new GTD-style project:
"Successful Outcome" - place = Work, no effort, max importance
--"Project Name" - place = Projects List, no effort, max importance
--"?Project Needs Action" - place = Work, avg. effort, max importance
----"Next Action" - place = Work, avg. effort, max importance
Here it is again in real life:
2005/2006 Admission Brochure Complete
--?Admission Brochure Complete
----Call printer for quote
On my "Work" list I see the task "Call printer." Once I've made the call, my Work list updates with "?Admission Brochure Complete." The preceeding question mark sets it apart from normal tasks. It's my way of making Life Balance "ask" me, "What's the next action?" so I'm sure to add it. Once I can answer "Yes" to the implied question: "Is the admission brochure complete?" then I check it off.
In the mean time, that sibling task with no children and the simple project title "Admission Brochure" is always available to view through my "Projects List" place. It also happens to sit in priority order among all the other projects I have listed.
The "Projects List" place is perfect for scanning during a weekly review. I try to keep the notes in that task up to date with the project progress during the review. Then it becomes a great reference piece.
Once there are no more next actions, I check off both the "?" task and the project title task. Finally, the overall full project parent listed as a successfull outcome appears on my work list for me to check off.