The first time you start 3ds Max, the default project folder is your local /3dsmax folder. The path for this might depend on the operating system you use:
C:/users/<username>/my documents/3dsmax/autoback/
You can use Set Project Folder to specify a different location. You can also set the project folder from the Asset Tracking Dialog Paths menu.
When you set the project folder, 3ds Max automatically creates a series of folders within it such as \scenes and \renderoutput . Saving or opening files from the browser uses this location by default. Using a consistent project folder structure among team members is good practice for both organizing and sharing files.
When you set the project folder, 3ds Max might display a warning that some file paths are no longer valid. If the scenes you are working on belong to the project you have chosen, it is safe to disregard this warning.
3ds Max creates an MXP file with various paths that pertain to the project folder, and stores it in the folder you have chosen.