I normally have good luck with the Premiere Pro project manager to transcode and trim the media in my final sequences. Typically I will archive these projects and temporarily move them to a "managed" folder on our QNAP NAS.
However, for one large client, we end up having to borrow from older projects to create new versions. Sometimes we use other media-managed sources in the new edit. Over the holidays, I backed up and removed a number of the oldest projects from the QNAP. As fate would have it, today I had to revisit one of these, to create yet another version. To my surprise quite a few of the files weren't there on the archive drives in the project-managed folder.
So this leads to the question. Has anyone else experienced issues like this? Everything is fine with projects using all original (un-trimmed, non-media-managed) files. The issues are with media-managed projects that used sources from other media-managed folders. It looks like what is happening, is that the files, which were already transcoded/trimmed, are not copied or transcoded a second time into the new folder, when the revised project is project managed.