Spsaved - update same list item

Dear @Muthu,
Please, try the following - first disable redirection, then redirect manually once the operation is complete:

fd.spSaved(function(result) {
  var redirect = result.RedirectUrl;
  result.RedirectUrl = null;
  var siteURL = 'https://abcd.sharepoint.com/sites/ProjectsDashboard';
  let web = new Web(siteURL);
  const i = web.lists.getByTitle('Projects').items.getById(result.Id).update({
  ProjectID: "PROJ" + result.Id
  }).then(function(){
    console.log("Updated!");
    window.location.href = redirect;
  });
});