VM Fusion - Viewing Windows folders FROM Mac

I have a new iMac and have installed VM Fusion 3 and Windows 7 x64.

Wish I didn't, but I need Windows 7 to run software for work. The software writes to output directories in the Windows partition.

On the Mac side, I have Office for Mac. I'd like to be able to save documents opened or created in Office in the Windows directories, specific to the projects they are associated with.

Is this possible? I can set up Mac folders that are accessible from Windows, but can't seem to set up the reverse. And the reverse is what I need! That is, I need to write FROM Mac applications TO Windows folders.

If this is not possible with VM Fusion, do you know if it is possible with Parallels?

Thanks

Thanks Marvin -
I should also say that I'm no computer expert, so please pardon my ignorance.

Firstly, what is "smb"?

When I run the ifconfig -a command, it returns several items. The two that seem the most appropriate are "vmnet1" and "vmnet8". Do I just try both IP addresses until I find the one that works?

And do I use the "inet" IP address or the "broadcast" IP address (they're different).

Thanks Marvin - I really appreciate your time and patience, as I'm sure you've got much better and more interesting things to be doing...

I have tried several things, but have still not had any luck. Again, this is Windows 7 which is totally new to me. I've been using XP for years and am still trying to find how to access certain settings, etc.

On the Windows side, I have a folder C\Output_Data. I right-click it and there is a "Share with" option. My choices are to share with "Homegroup" (read only or read/write). It also lists me as the "owner". I select "Homegroup - read/write".
I right-click the folder again and look at "Properties".
* Under the "Sharing" tab, it shows the folder as "Shared" and if I further look at sharing properties, it shows the same dialog as the "Share with" option above. It also shows the Network Path to the folder:
\\\\Win-4mo7hrurrc0\\Output_Data
* Under the "Security" tab, it shows "SYSTEM" "ME (owner)" "Home Users" and "Administrators". For the sake of getting this to work, I have granted everyone "Full Control" read/write/modify, etc.

Power down Windows. Power down VM.

(by the way, in the Windows Folder Options, I didn't see an option for "simple file sharing". This mostly seems to be options for display, file extensions, etc. Under Advanced Settings, the only "sharing" reference I found was "Use Sharing Wizard", which is checked --- but I've yet to encounter a wizard during all my time trying to get this thing set up!).

Power up VM. Boot Windows. (VM network adapter is set to NAT)
Double-check all my Windows folder sharing settings and all seem OK.

Go to Mac and open Finder.
In the Shared section, it only shows a networked hard drive (which I have no trouble connecting to from Mac or Windows). It doesn't show me any other options.
Under Devices, if I select "Macintosh HD", it shows the normal Mac folders and a VM "Windows 7 x64" entry, which is not a folder (if I click it, it only gives me info.)
If I select Go --> Network, it only shows the networked HD.
If I try to connect to \\\\Win-4mo7hrurrc0\\Output_Data, I get an error.
Nowhere can I find anything that looks like it would lead me to any folder on the Windows side.

What am I doing wrong?