To open a project which has already been added to the repository:
From the File menu, choose Import menu item.
In the Import Wizard, choose Team->Project from Vault Professional as the import source.
Enter your username, password, and server to login to Vault Professional.
Select the repository containing the project you wish to open.
Browse the repository to find the project that you wish to open.
If Eclipse does not detect a .project file, you can either continue in the wizard to choose how Eclipse will open the project or choose Finish to conclude the import process. If a .project file is detected by Eclipse, it will automatically open the project using that information when the import is concluded.