In this Ableton Live 10 Production Basics tutorial, you will learn best practices for Project File Management. The "File Manager" is a much better method of organizing, saving and archiving your projects than that standard "Collect all and save" found in the File menu. To see the "File Manager" go to the "View" menu at the top of Live.
In the file manager, you can collect files outside of the project folder, see if there are missing files, see if there are unused files - like consolidated or frozen tracks - that you can delete, and even make an Ableton Live Pack using Ableton's stellar compression algorithms. All that and more is covered in this video.