Project settings determine the properties of your video and audio project assets. For example, they determine their format (AVCHD), source (hard disk or Flash memory camcorder), and aspect ratio (standard or widescreen video). Project settings also specify the frame rate, audio sample rate, upper or lower field first, and bit depth for your project.
When you start a new project, Adobe Premiere Elements applies a project preset to it. A project preset is a collection of preconfigured project settings. You can use the default project preset for the television standard for the Adobe Premiere Elements version installed on your computer.
NTSC (National Television Standards Committee) is the television standard for the Americas, the Caribbean, Japan, South Korea, and Taiwan.
PAL (Phase Alternating Line) is the standard format for Europe, Russia, Africa, Middle East, India, Australia, New Zealand, South Pacific, China, and other parts of Asia.
Because you can’t change the project preset after starting a project, verify the format of your source footage before selecting a project preset.