1.What does pre-defined template works and details about that? -->
1) Advantage of Pre-Defined Template is you can use it to create a new Project so all your project is consistent with the same data model in your organization.
2)All your business process, attributes can go into Pre-Defined templates. This requires lot of planning and discussion with business to finalize what will go into template in terms of Tracker type, Attributes, WIKI pages, roles, permissions etc.
3) Any update that is done to Template gets reflected into Project if the inheritance is enabled.
2) How the Strategic Re-use works and function ? -->
1) Reuse functionality is being developed by PTC using cross project working set and hopefully it will be available in the coming releases.
2) You might have adopt some other technique till this functionality is available
