if you choose to be reminded to set new folder locations each time you begin a new project, a window will open.
this window is also always available by choosing file ] preferences ] general ] default folders form the main menu. or click the project folder button in the top of the timeline and choose the default i/o folders tab.
the default system folder starts off as the folder you chose in the previous screen. if you click on the browse button next to the default system folder, you will see that the seven sub-folders listed below have already been created.
if you do not wish to use the default sub-folders, click the user defined check box. the av, audio, graphics, titles, fx, settings and misc folder browse buttons all become available, so you can re-assign the save locations for all these files. this allows you to redirect save locations later in the project for new media.
note, when you are setting up your project folders, that there is a limit of 2048 files per folder in your dpsreality video drive (usually your p:\ drive). if you do a lot of rendering and have very long projects, you may need to create another folder at some point or flush out older, un-used renders.

keep in mind that when you start a new project, these folders will always be created whether you use them or not.
if you leave this at the defaults, these are the default i/o folders that you will use for this project (and may draw on for multiple projects).
the project folder tab on this screen shows you the settings you previously made for default folder locations. these locations cannot be changed unless you create, rename or copy a project. this screen is there for informational purposes only.
when you change a target directory in the project info screen and press ok, a window will open. press yes to apply your changes or no and all individual directories continue to point where they were previously.