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Working Remotely? Adobe Offers Team Projects to Premiere Pro and After Effects Users with a Creative Cloud Individual License Through August 17, 2020. Info here.
Check out this video for some great info on Team Projects:Adobe Video: Livestream Series with Bob Lindeman and Jason Levine
What is "Team Projects" and who is it for?
Please check out these resources, especially the excellent PDF, which will completely explain everything in detail:
Productions PDF: https://helpx.adobe.com/content/dam/help/en/premiere-pro/using/production-panel/jcr_content/main-par...
Productions helpx article: https://helpx.adobe.com/premiere-pro/using/production-panel.html
My take on Team Projects vs. Productions
Would a Single Project or "Productions" workflow be more suitable than a Team Project?
You could also give it a try and see if you can find some benefit for your particular situation, especially if you are in a remote collaborative work environment.