My assumption for “Archive” is that the task would no longer show up in my list of things to do (My Tasks). Archived projects should no longer show up in search or in tasks as the project is not active, but archived.
As an example, I work with clients on a monthly basis. We plan tasks for next month, two months out, three months out, etc. If a client cancels after the first month I want to archive their project so it doesn’t show that it needs to be done.
Deleting the project isn’t an option because if the client returns we want to start where we left off and Unarchive the project.