Features represent a set of functional component (code) that can be activated and de-activated at various Scopes(levels) throughout a SharePoint instance. Features have theire own architecture,which allows you to trap events such as when a features in installing, uninstalling, activated and Deactivated.
Using Features, you can do everything from adding a link to the Site Settings page to creating a complete fully functioning Project suite that can be added to any SharePoint site.
Features are composed of at least one feature.xml file that is located in a custom subdirectory of the features directory. Features can also contain other files that make up its components, such as and most commonly an XML file that contains a list of Feature elements.
Each Feature element can be included in a Feature that has the appropriate scope.
After Creating the Project Solution we can provide scope of the solution here based on that scope it will deployee the solution