I can't imagine throwing away any project. It just isn't in my cheap nature to do that. I either keep it until I can fix it right or I make it into another project (like a tote bag, pot holder/s, placemats, or cut it into other pieces and use it in a scrap quilt, etc.). Sometimes it just sits in my old project box, gathering dust. When I finally can't stand it anymore, I give it away.
That reminds me of a sewing group I belonged to for about twenty years. There was a lady who used to send her, "I can't stand it anymore" projects anonymously to another sewing person. It took a while to figure out who was doing it, but then she was finally unveiled when she sent her macaroni project that she was making for her child in school to another mother who had a child in the same class as her child. We were in stitches for years remembering that.