Nevermind! Figured it out :)

All I needed to do was to add the parameter to my table's query.

Before, the table's query was like this:

SELECT TaskLabel, TagLabel, Time
FROM customtable_time_tracking

This pulled in my information just fine, but I wanted to be able to filter the data based on what project you wanted to view. To do this, I created the parameter in my first post:

SELECT DISTINCT Project, ProjectLabel
FROM customtable_time_tracking
WHERE DepartmentLabel='Web Development'

I thought this would magically do the job for me (the docs were kind of vague on hwo the process worked). After I read through the documentation for the 100th time, I finally realized what was being described in this link.

You not only have to create a parameter, but you must also apply it to the query of your table. Parameters don't execute queries, they just create a variable for you to use in your SQL for the table/graph/html graph/value bits of a report.

So, now my table's query looks like this:

SELECT TaskLabel, TagLabel, Time
FROM customtable_time_tracking
WHERE Project = @Project

And it works!