I make photo books each year of the kids' artwork, once you get organized, it's easy and a huge relief to the stacks of construction paper and poster board problem!
Some things I like best about this are that it's tidier and way more organized, the kids like to tell me about their work and I put notes in the journal boxes. They give them titles or explain what the assignment was. The kids are completely OK with me tossing their projects once they know it's had it picture taken for the book!
I do save my favorites and frame them or send them to grandma and grandpa! Or if something is particularly special to a child, we save it, but this helps for the vast majority of arts, crafts and clunky projects that our kids create!