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What are Autodesk Inventor Projects?
Inventor uses projects to identify folders that contain files unique to a design project and folders that contain library files referenced by a design project. Projects define the locations of templates, styles, and Content Center configurations.
The reason why we use inventor Projects is to maintain links between Parts Drawings and Assemblies. Projects file provides us the functionality to find and access Inventor data quickly. Projects files prevent us from saving files outside a project location.
A project file will typically have Parts and Assemblies (Workspace) unique to the Project, That project may also have company based parts (library) that are common across all projects and designs, off the shelf components such as fasteners, fittings, or electrical components (Content Center)
For good housekeeping, you should start with a good folder structure.
To review and set up an Inventor project I have compiled a video for you, the Link to this file is as follows:
Hope this Helps
Ray