Thank you for your feedback!
As of the 2017.1 release in April, this feature is available to System Administrators, who can now easily restore the deleted Projects/Tasks/Issues within the Setup area. All documents, custom forms, expenses, update streams, hours will be restored together with the objects. For the hour deletion, you have an option to control what happens with the hours after deletion, and how it will affect the restoration. Please see the following help article https://support.workfront.com/hc/en-us/articles/115001642488-Configuring-How-Hours-Are-Managed-When-an-Object-Is-Deleted-and-Restored .
Our next step is allowing System Administrators to restore deleted documents, as well as perform bulk restore of all these items.
We know an “Undo” functionality is highly requested (like reverting actions on the projects). We are evaluating where in the system this is feasible and most needed.
Anna Asatryan,
Product Manager, Workfront