I guarantee it. Re-electing sitting office holders. Projects which are designed only to increase public awareness, but which do not result in measurable increases in membership, new elected office holders, re-elections, or ballot status, are bad projects. If you can't measure the results then you don't know for certain what impact the project really had. And you can't use uncertain results as a stepping stone to higher achievements.
Good projects are the bedrock of good fundraising.
A project can form the basis of more than one fundraising letter. As long as you need more funds to bring the project to completion, keep mentioning it in your appeals. But make absolutely sure to report what you've done with the project to date. A fundraising letter must entertain and inform. And the most entertaining thing is success.