The program stores its files in various locations, according to whether it is set to 'Default' (Windows Profile) mode or 'Portable' mode.
In this mode the program is split between the application files in the conventional 'Program Files' folder, and the user data which is stored in the user's non-roaming profile. When in this mode, each user will have their own set of projects e.g.
In this mode, the entire application and data are stored in one single folder, which is ideal for storing on a removable drive e.g. USB stick. For example, if stored on a USB drive E: