Be sure that sharing is enabled at the tenant level before you proceed. Use the following procedure to configure sharing for your Project Web App site in Project Online. You can still pre-populate users in your directory with this option, but it's not required. The Allow external users who accept sharing invitations and sign Office 365in as authenticated users option is the most versatile and allows you to send invitations to anyone with an or Microsoft account. To use this option, you must pre-populate your directory with the users who you want to invite to the site.
The Allow sharing only with the external users that already exist in your organizations's directory option is more restrictive and allows you greater control over who can be invited to the site. The important thing is to choose the sharing option that's best for you. You can pre-populate your directory with an initial list of users, then invite more later. You can use either of the above sharing methods, or you can use a combination of the two.
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They can still work with documents, issues, and risks, but won't be able to manage projects or work with time sheets until they have a Project Online license and have accepted the invitation.
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Because of this, they will not have full access to the Project Web App site when they first receive the invitation. One thing to note in using this method is that invited users aren't added to your Office 365 directory until they accept the sharing invitation, and they must be in your directory before you can assign them a Project Online license. Users who accept invitations are added to your Office 365 directory and you can manage them there. You can invite new users whenever you need to by clicking Share on the Project Web App site. The advantage of this method is that the site can be easily shared with anyone who has an Office 365 or Microsoft account. If you choose not to pre-populate your directory, you can choose the Allow external users who accept sharing invitations and sign in as authenticated users option when you configure sharing for the site. You can assign licenses to the imported users before sending them the link to the Project Web App site so they have the proper access when they log into Project Web App. If you import a list of users into your directory all at once, you can automatically add them to security groups and use these security groups to control site permissions for the various Project Web App roles, such as project manager, team member, and so on. This gives you a greater level of control over sharing the site by limiting the scope of who can be invited to the site. When you configure sharing for your Project Web App site, you can choose the Allow sharing only with the external users that already exist in your organizations's directory option. There are several advantages to doing this: You can pre-populate your Office 365 directory with external users, such as by using Azure Active Directory B2B collaboration or by adding users manually and changing the user type to Guest. You can pre-populate your Office 365 directory with the users with whom you want to share the site, or you can send sharing invitations to users directly from your Project Web App site. There are two options for sharing your Project Web App site in Project Online. (To find the external users in your user list, look for users with #EXT# in the user name.) Plan sharing Project Web App with external users Managing licenses and permissions for external users is the same as for internal users. For more information about Project Online license considerations for external users, see the Project Online Service Description.