Oh, it's like the standard database object locking model. Simply, only one
person can make a change at a time. Let's say two people opened a file and
one person changed "a-b-c" to "a-b-c-d" and the second person changed "a-b-c"
to "a-b-e-f". Whoever saved last will overwrite the intermediate changes.
Basically lets say "a-b-c-d" was saved first but 3 seconds later "a-b-e-f" is
saved. Guess what, "a-b-e-f" is saved and "a-b-c-d" is lost. That's why
it's one at a time so that doesn't happen...
To get the absolute latest information into a master plan, yes, all projects
need to be closed so that you get the latest info, especially for any
cross-linked tasks. How to do this? (a) Stay late (!!!) or (b) Set up a
"Maintenance Window" where everyone must check in their plan so you can have
the master update...
There may be other ways but it escapes me at the moment...