Create project groups and project terms.

create-projects-terms.php

<?php

function akv3_create_projects_terms() {
	$terms = array(
		'commercial' => 'Commercial',
		'deprecated' => 'Deprecated',
		'featured' => 'Featured',
		'open-source' => 'Open Source',
		'wordpress' => 'WordPress',
	);
	foreach ($terms as $slug => $name) {
		wp_insert_term($name, 'project-groups', array(
			'slug' => $slug
		));
	}
	$terms = array(
		'threads' => array(
			'label' => 'Threads',
			'meta' => array(
				'proj_github_url' => 'https://github.com/crowdfavorite/wp-threads/',
				'proj_wp_url' => 'http://wordpress.org/plugins/threads/',
			),
			'groups' => array(
				'featured',
				'wordpress',
			),
		),
		'carrington-core' => array(
			'label' => 'Carrington Core',
			'meta' => array(
				'proj_url' => 'http://crowdfavorite.com/wordpress/carrington-core/',
				'proj_github_url' => 'https://github.com/crowdfavorite/wp-carrington-core/',
			),
			'groups' => array(
				'featured',
				'wordpress',
			),
		),
		'carrington-build' => array(
			'label' => 'Carrington Build',
			'meta' => array(
				'proj_url' => 'http://crowdfavorite.com/wordpress/carrington-build/',
			),
			'groups' => array(
				'featured',
				'wordpress',
			),
		),
		'sharethis' => array(
			'label' => 'ShareThis',
			'meta' => array(
				'proj_url' => 'http://sharethis.com',
				'proj_wp_url' => 'http://wordpress.org/plugins/share-this/',
			),
			'groups' => array(
				'deprecated',
			),
		),
		// lots more here - you get the idea
	);
	foreach ($terms as $slug => $data) {
		$term = wp_insert_term($data['label'], 'projects', array(
			'slug' => $slug
		));
		$post = cftpb_get_post($term['term_id'], 'projects');
		// meta for project page
		if (!empty($data['meta'])) {
			foreach ($data['meta'] as $k => $v) {
				add_post_meta($post->ID, $k, $v);
			}
		}
		// groups for project page
		if (!empty($data['groups'])) {
			foreach ($data['groups'] as $slug) {
				// note, this is a WP 3.6 function
				wp_add_object_terms($post->ID, $slug, 'project-groups');
			}
		}
	}
}