I managed to change my project name, but how do I change the name displayed directly to the left of \"iOS Simulator\"?
This is in the Xcode documentation available from the "Help" menu. Choose "Help" > "Xcode Help", then enter "rename scheme" to find it. Here are the steps:
It will select the name of the scheme and allow you to edit it.
You can remove them, then add them again with a new name.
The best way is to duplicate the scheme that works, but with the wrong name, use the new name, then delete the bad one.
Hit the gear-button near the plus-minus buttons new the lower left corner.
XCODE 9:
Product -> Scheme -> Edit Scheme
Or simply click and hold left mouse button on your project icon (on the right from the run button) and select Edit scheme