pgrok

pgrok loads project settings from specially named files (see
variable `pgrok-project-file') in the same directory as the file
you are opening or an ancestor directory. It also contains some
functions for dealing with projects, using the directory where a
project file was found as the project directory (see variable
`pgrok-project-directory'). If you wish to customize the variable,
you can do it in one of the project files, because they are
evaluated after setting the variable.

pgrok does not support nested projects.

To use pgrok, add `pgrok-load-project-files' to `find-file-hook', a
major mode hook, or run `pgrok-load-project-files' by hand.

Modified from Kai Großjohann's version at 
http://www.emacswiki.org/cgi-bin/wiki/ProjectSettings