For compilating the project, you need to use the command:
make recode

THen if you have CPCTelera, you just have to write: 
cpct_winape -as     to open the game with winape
or
cpct_rvm -as        to oopen the game with Retro Virtual Machine

If you don't have CPCTelera, you have to opne the programs manually and load the corresponding archive