The real benefit of using federations is that you can bring multiple models together regardless of their file formats. You can have as many federations in your project as you like. New model revisions will automatically update in federations so that you are always looking at the latest information.
Here is how you can create one in any of your projects:
Open the project and go to the Federations tab
Click on the New Federation button next to the search bar or under All Federations
A new federation window will pop up where you will be required to provide the following information:
Federation name (127 character limit)
Federation description (optional)
Federation code (optional)
Press the Continue button
In the following window, select all the models you want to include in your federation.
You can either include them all/remove them all or pick them one by one. Once ready, hit the Create federation button.
The new federation will appear in the list of models in the Federations tab.
Edit a Federation
Should you find the need to edit an existing federation, simply click on the containers button or on Edit federation in the federation settings and remove or add any of the models you wish then hit Save changes.