You can add various details about the project like the client, provider, date when the project was done and the URL to the project. Image used can be set for each portfolio and can be found under featured image number 2. It should be 610px wide but can be of any height. If it is wider it will be cut (by TimThumb) so aspect ratio is not changed.
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Project URL themeforest.net Project designer Envato
Project Date of completion February 7, 2012
Project Client John Doe