A project contains path information for the model, the input report or database, and for the exports. A model contains path information for external lookups and for elements called from external models. If all of these paths are the same for the other user as for you, then there's no danger in just emailing the project and model to them.
The Utility (Start > Programs > Monarch > MonarchU.exe) gives you a simple too to edit the paths for these different elements in either one model or project or in collections of them.
Another option is if you are on a network and all have access to a shared directory, you can put those models and projects out there where every one will be to use them.
I have put all the models and projects that are used in my company out in a shared network directory and no one has had problem running them.