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 Using Siebel Tools > Checking Out and Checking In Projects and Objects >  
About Object Check Out and Check In
 
With object check out and check in, you can check out and check in only the objects that you need; that is, you do not have to check out and check in entire projects. NOTE:  If the Allow Object Locking property is set to TRUE, you cannot check out a project from the server. You must set the Allow Object Locking property to FALSE to check out an entire project from the server. 
Checking out and checking in selected objects: 
- Allows multiple developers to work on objects within a single project
 - Improves check-out and check-in times
 - Reduces network traffic
  
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