I do this all the time. Either a pattern or fabric will start me collecting until I have enough material to make the quilt. I have many small wash baskets that stack real nice and I put collected fabrics together for the project with the pattern on top. I check off each fabric in the pattern as it goes into the basket. When I have everything I need I either make the quilt or put it in the to do pile.
I also tie groups of fabric together for particular projects with selvages I save for that purpose. I tuck the pattern right on top so I know what it is going to be used in.
peace