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you can do this in several ways.
The first is to set your works space preferences to a primary search path see attached prefs1.jpg
Another way is to set up a specific workspace and then when you open Microstation manager you choose the workspaces by name thru browsing down the workspaces pulldown, it normally set to default or user... you just have to create one called the folder name or project name and then path it thru the pull down...sse attached prefs2.jpg

Another way is to create project folders this is a little more difficult as it involves editing the user pref file ie .upf
you edit under th eset search paths MS_DEF
to =the full file path to your project/ (dont forget the forward slash...
and lastly my favorite
create short cut to the folder ie U:\JOBS\43315797\AMASTER
in explorer and save them in favorites by project name
then just run in internet explorer favorites choose one and windows explorer pops up you then load a file by clicking on it and voilla ustn loads it without the manager...