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The Project File is the conscience of the project!
This implies that the Project File is the only place where the project documentation is saved! So it is 'forbidden' to have project documentation on local computers, USB sticks, DVDs etc. unless they have a copy of the Project File.
However, it is important as a Project Manager to also take care of 'privacy' and 'security' of the project data so if people have project data in different media monitor the risk of loss and all other possible consequences that can be avoided. Of course, the Project File is basically a backup where changes, for example, from a month ago can be picked up today.

The Project File may have a structure like:

  1. Standards, procedures and templates.
  2. Organization, people and other resources.
  3. Project planning.
  4. Minutes.
  5. Risks.
  6. Issues.
  7. Changes.
  8. Delivery.
  9. Sponsor and stakeholder information.
  10. Third parties.
  11. Functional and non-functional requirements.
  12. Quality Management.

It is also important, as applicable, of course, to save the Project File on the following considerations:

  1. License overview of software that is purchased at the expense of the project.
  2. Overview of the hiring of people (who, start and end dates, ...).
  3. Who, what, and when given access to the Project File and when such access is removed.

when using 'tooling' such as 'requirements management' or Project Management tooling the Project File is normally integrated in this environment.