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The upgrade warning in the Project Manager indicates that project library needs to be upgraded
It’s generally a good idea to back up a project library prior to upgrading it, in case something goes wrong. In general, upgrading from a whole version release to the next whole version release of DaVinci Resolve usually requires an upgrade, while upgrading to a dot release of the same version may or may not. If the currently used project library requires an update, you’ll be told on application startup.
Click on a project library that needs updating, and select the Upgrade Project Library button. A dialog appears to confirm if you really want to upgrade that project library. Click Upgrade to proceed.
Viewing Project Library Contents
If you’re using multiple project libraries to organize your projects, you can browse the contents of each project library to search for what you’re looking for. Simply click to select a project library in the sidebar, and an orange highlight will appear. All projects corresponding to that project library appear in the Project Manager window.
Optimizing Project Libraries
Sometimes, project libraries in DaVinci Resolve can become so large that their size affects performance. In these cases you may need to optimize them to improve access speed by “vacuuming” the project library of unnecessary spaces and reindexing it. Using the Optimize command can also be a valuable troubleshooting step in certain cases where you’re having problems opening, importing, or otherwise using projects saved within network project libraries.
1 Select the project library you want to optimize.
2 Click the Display Project Library Details icon (the circled letter “i” to the right of the project library).
3 Click the Optimize button.
4 A warning dialog will appear. Click Optimize to proceed, otherwise click cancel to leave the project library in its current state.