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If I pass a `name` to a `new aws.cloudformation.Stack` and a CF stack with that name exists, will it use that CF stack?

No - but you can use `.get()` to get the existing stack and use that to access its outputs. 

No - not currently. <https://github.com/pulumi/pulumi/issues/1662> is tracking being able to adopt a resource into Pulumi and then make changes to it. 

In my case the resource is already managed by Pulumi but in another project.

I see. Then you likely do want `get` in this second project so that you don’t have two stacks trying to manage the same resource. 

Project 1 provisions some base resources via CF (in Pulumi) and triggers builds of other services. After some other services have been deployed, project 2 needs to update the CF stack parameters to match newly generated values.