But what is it?
Here are a few fan theories summarized that seem reasonable enough.
The Resurrection Project Theory
Cold Harbor represents Lumons effort to bring Gemma back from death.

Severance
The vital signs showing on Gemmas file could indicate shes being maintained in some living state.
Cold Harbor = Dead Shelter
Cold Harbor refers to a dead shelter or storage for deceased bodies.
Lumon could be using dead bodies to harbor the consciousnesses of dying Lumon CEOs through a process called revolving.

The numbers MDR refiners sort based on their intuition might represent genetic sequences unique to themselves.
This suggests employees are unknowingly helping to clone themselves or important Lumon figures.
The projects completion might involve creating a new heir with specific genetic qualities.
This could explain why Mark and Helena were brought together and why their connection is important to Lumon.