It depends on some factors on what may work best for you honestly.
Do you have people who are often mobile?
Are you worried about someone changing templates and design data?
Do you have an unreliable network drive?
If so, you may consider having everyone use local templates and design data. You can place them in your Vault Path (example: C:\Vault\Templates and C:\Vault\Design Data that are at the same level as C:\Vault\<workspace> From there you can simply go to each users computer and get folder from Vault, and that will allow you to quickly update any changes they made, or update any changes you've made.
If you don't have the above situations (all workstations won't leave the office and you aren't worried about the network drive disconnecting on your users) you can place the Templates and Design Data to a network drive, and define the paths either in Inventor application options, or in the Inventor IPJ file.
Also, check out our blog postings on the topic of Single Inventor Project Files.
Ron Smith Front Line Technical Support Specialist - Data Management Autodesk, Inc. http://help.autodesk.com/view/VAULT/2014/ENU/ http://crackingthevault.typepad.com/ http://underthehood-autodesk.typepad.com/