Studio supports a few revision control system at the moment (Perforce, Plastic SCM, TFS and SVN (beta)). The exact details of how each of these systems is beyond our scope and we recommend reading through the documentation of each systems.
In general, each system provides a way to add files to a server and user can retrieve these files, modify them and upload the modified version back to the server. To start working on a project with a team, you will first need to setup the revision control system of your choice and add your FMOD project to the server (this process is usually called submit or commit). Once the project is on the server, the members of your team will be able to retrieve them to their PC (a process commonly known as syncing). After loading the project in Studio, each member will need to setup the connection details for the version control (e.g. server address, username, etc). This allows Studio to communicate with the server and perform the necessary operation to either make files writable, or prepare them for add to the server. Once you have happy with your changes, you can sync to the latest and commit your changes from the UI.