Here is the way i organize my projects for Final Cut Pro.
i find that if your media that you are working on is spread out to the far corners of your HD than things can get very frustrating. so it is always best to keep all media that you are working with in the same folder.
So this is how i keep it all neat and organized.

First things first... you Project File should be organized the same way as your Project Folder in your Finder.
so what do these all mean... well ill break it down.

A- EDITS--- In FCP this BIN is where you would put your SEQUENCES
in your Finder it is where you put your PROJECT FILES ( and on that note, you should SAVE a new PROJECT every day ie: MY_PORJECT_2_17_10 ... then just save a new one every day)

B-RUSHES --- i got this file system from my friend you is an editor from England, so there they say RUSHES instead of FOOTAGE. So that being said, this is where you put your Footage that you want to edit

C-EXPORTS ---- where you put your Exported movie files

D and E are self explanatory

and finally Z - GRADING TOOLS / DOCUMENTS
this where i tend to keep my editor notes and such.

this is just a template. you can change or add to as you see fit.

i hope this helps some of you editors out there that are just starting out. And if you have any question, feel free to ask.

filmpunk