Good news/Bad news
Here is the formula that we are using.
CONCAT (Field 1, "-",Field 2, "-",{Field3},"-",Field 4,"-",Field 5)
The reason Field 3 has { } around it is because our actual name has a symbol in it.
When we take the issue form and convert to project our traffic person will copy and paste the result into the Project name. We do not have an automated way to do that step yet..
Regarding the timesheets - I would think so since we are still completing the project name.
I hope this helps.