Vector Bundles and Locally Free Modules
A basic motivation of the theory is that projective modules (at least over certain commutative rings) are analogues of vector bundles. This can be made precise for the ring of continuous real-valued functions on a compact Hausdorff space, as well as for the ring of smooth functions on a smooth manifold (see Serre–Swan theorem that says a finitely generated projective module over the space of smooth functions on a compact manifold is the space of smooth sections of a smooth vector bundle).
Vector bundles are locally free. If there is some notion of "localization" which can be carried over to modules, such as is given at localization of a ring, one can define locally free modules, and the projective modules then typically coincide with the locally free ones.
Read more about this topic: Projective Module
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