Ideally, I would have 4 projects going at any one time.
1. In process of quilting
2. UFO in progress (I have many UFOs and this is how I get them done now).
3. Swap or Quilt-a-long
4. Whatever draws my attention - be it new, UFO or in process.
I am eliminating #3 for the rest of the year due to too much on my plate, but it's a good plan! I don't usually precut projects since I always do test blocks and rarely do 2 of the same project at the same time.