Setting up a default Inventor project file

Steps covered in the video:

Navigate to the Project Manager by going File, then Manage, then Projects in Inventor.
Click New, then select New Vault Project to create the Inventor Project File.
Select a name for your file under Name.
You will now see Project Workspace Folder. Click the three dots to open the file directory. Navigate to where you would like to store your files. It’s recommended to store it directly on a local drive. The file path should look like [Drive]:\[Name of Folder]. In the example it is C:\Work. Click OK and then Finish to save.
Ensure the project you selected is selected with a check next to it.
In the screen below, find Workspace and expand it with the + next to it. Right-click the Workspace Folder and select Edit.
Open your file directory with the button next to the file path and locate the folder you created in the previous step.
In that folder, create a subfolder where you store your designs or models, and name it. When naming the folder, please name it directly in the window as seen in the video, then click OK once completed. Please ensure that your file path is updated by left-clicking in the modal.
Next locate Folder Options, expand with the + button. Find Content Center Files and right-click the folder, select Edit. Open the directory to find the main folder created. Create a subfolder called Content Center Files, done similarly to step 8. Once completed, select OK and left-click in the modal to save the file path. Then click Save at the bottom and then Done.
Log in from the Vault Add-in (Vault tab in Inventor) by clicking the Log In button. Log in as the administrator, ensuring you have the correct Vault instance selected.
In Inventor, navigate to Access (below the "Autodesk Vault", Log In, Log Out buttons) and then click the downward facing arrow to open the dropdown. Select Map Folders.
Once the modal opens, starting from the top select Project Root and then Edit. It will open another modal where you will select the folder labeled $, click OK.
Select Content Center Files, select Edit to open the mapping modal. Click the folder labeled $, then select New Folder. Name it Content Center Files, select Library (required) and then OK. Ensure the new folder is selected and then click OK. Repeat this step for Template and Design Data.
Click OK to save the settings.

How to set up Vault with Inventor - Summary