The best was is to leverage the built in [Record ID#] field. But please please don't rename that field. Just make a formula numeric field called [Project #] and make the formula
[Record ID#]
Or if you want another numbering scheme like 0001. 0002. 0025 etc like leading zeros there are easy ways to do that formatting.
As for the Project Name field you just make a Formula field such as
List(" ", [Project Name Entry] , "#" & [Record ID#], [Division], ToText(Year[Project Start Date]))
The result would be like
OakPines #123 Foundations 2025