You can fix a work point in 3D space in an assembly file. Changes to model geometry do not affect its position. All degrees of freedom are removed from the grounded work point .
The 3D Move/Rotate command is not available in an assembly.
Although still valid, the Point command has been enhanced in Inventor R2011 to now present the Inventor user with a convenient drop-down menu listing each of the possible combinations available for work point creation.
Each of these new options is described on the Quick Reference tab of this Help topic.