The workspace can be customized in lots of different ways, you can rearrange the panels and use special panels for different tasks.
The workspace is divided into 5 panels :
Project Panel - It is where you store all of the elements needed to create the finished video. It can contain individual video clips, audio clips, titles, photos and graphical images
Monitor Panel - Where video clips can be viewed. The left screen is the source monitor which allows you to preview clips and make adjustments if necessary. On the other hand the right screen is the program monitor, this shows you the timeline
Information Panel - Shows information about a chosen item
Timeline Panel - Where you arrange the edits from the project panel into a sequence. This is where your video’s begin to take shape. By dragging items from the project panel you can then put them in order, you can then create a sequence of clips and events
Tools Panel - Where you can choose which tool you wish to use
Other parts of adobe premiere -
Current time indicator (CTI) - it is a blue triangular indicator which shows you where you are on the timeline
History Panel - Displays a list of recently performed actions. Allows you to move back through multiple undo levels to previous versions.
Audio Mixer - Gives you the control over the audio levels for individual tracks.
Effects Panel - Drag video and audio effects and transitions from this panel to the timeline
Effect Control - Controls parameters for each effect which has been applied to a clip
Reference Monitor - A handy technical monitor for advanced users, gives you precise information about video clips