Compress multiple folders in to separate archives

Hi.

I have a large number of folders that I want to compress in to individual zip files for backup/archive reasons.

I can right-click on each folder and 'Compress', but this will take way too long and needs to be done periodically.

I'm pretty sure this is possible, but I'm just not finding the right combination of commands. Presumably, this is a job for a shell script or Automator.

Any help?

It needs to be ZIP.

Imagine the following directory structure:

/Projects
--/One/
--/Two/
--/Three/

What I want to create is:
/Archive
--/One.zip
--/Two.zip
--/Three.zip