Performing a coordinate conversion is accessed through the Edit menu, Coordinate Conversions item, or by right clicking on a data object from the Project Explorer This item opens the Coordinate Conversion dialog. Two steps are necessary for performing a coordinate conversion:
The first step is to set the project coordinate system and units of the data currently in WMS (referred to as the "Project" coordinate system). The project coordinate system can be set in one of three ways:
Through the Edit | Current Coordinates menu command.
By selecting the Units command from the Edit menu and then choosing the Current Coordinates button.
By choosing to edit the project coordinates once inside the Coordinate Conversion dialog.
All options require you to set up the horizontal and vertical coordinates as described in the Coordinate Systems page.
The second step is to set the new coordinate system and units and perform the conversion. The coordinate conversion dialog is split into two sections:

The left side shows information about the current project coordinate system and includes a toggle for defining the current coordinates if they have not yet been set.
The right side of the dialog allows you to specify the new horizontal and vertical coordinate sytems (see Coordinate Systems for descriptions).
Once the current and new systems are set, selecting the OK button performs the conversion and sets the project coordinates to the newly converted coordinate system.
Some conversions are not allowed, such as converting between a NAD and non-NAD system. WMS informs the user when conversions are not allowed.
Related
Topics:
Single Point Conversion
Coordinate Systems