As an Admin user you have the ability to duplicate existing project types to use as a starting point when creating a new project type.

Click on your profile picture, select Account admin, and navigate to the Project Types tab.

Click on the menu next to the project type you would like to duplicate and select Duplicate.

You will be navigated to the duplicated project type where you can give the project type a new name and make any additional changes as needed. Click Save project type when done.