One of our Register MPN website users submitted the following question: 

Question: 
What is the best approach if our Project Managers manage certain projects and are Team Members on other projects?

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Response:
Sounds like you have Project Managers that can be a Project Manager for certain projects and Team Members on certain other projects.

Have the Project Manager in the Project Manager Security Group and use the My Projects and My Personal Projects categories to allow the correct set of permissions for that Project Manager as both a Project Manager (My Personal Projects) and as a Team Member (My Tasks + My Projects).  

Hope this helps.
-Jacques