Migrate to Parts Using Tools > Import Excel

Take a Project Snapshot 

Backup (Zip the Project)

Output the Schematic and BOM (save for reference and change reports)

Create Project SCHLIB and PCBLIB Libraries.

Altium Parameter Manager:

Optional (not required)  - To identify Library Ref for parts placed from DBLIBs

Using the Parameter Manager create a parameter named Symbol Ref for all parts in the project schematic and copy the LIbrary Ref to the Symbol Ref parameter. Or run the Altium Script "MakeSymbolRefs" to create Symbol Ref from placed parts. The "MakeSymbolRefs" script is included in the Parts Download.

Altium Reports > Bill of Materials

Export Project BOM, group by Mfr P/N, include Footprint and Library Ref .

Optional Parts Application - User Defined Fields

Select Configuration > User Defined Fields

Add user defined fields:  RefDes, Qty

Required:

Place copies of the project libs in the DBLib working folders (footprints and symbols)

Parts FE > Import Project BOM

Parts FE > Set Library and Footprint Paths to saved Project Libs

Altium Components Panel:
Uninstall All Database Libraries, except for your DBLIB database.

Altium DBLink:
Open or Create a DBLink to your Parts DBLIB database

DbLink > Options > Do Not Update (Global)

DbLink > Options > Do Not Add (Global)

DbLink > Options > Do Remove (Global)

DbLink > Single Key Lookup = Mfr Part Number || Mfr Part Number 

DbLink > Options > ID Update

DbLink > Options > ID Add only if not blank in database

DbLink > Options > ID Remove only if blank in database

Tools > Update Parameters from Database

Altium > Remove Parts DbLink from the Project.

Altium > Components Panel > Install or Activate Parts DbLib Database Library.

Altium > Close and Open (Restart) Altium to clear Cached Libraries.

Altium > Schematic > Use Find Similar > Select All Components > Properties Panel > Source > Part.DbLib - Parts

Altium > Tools > Parameter Manager > Copy ID Column to Library Reference Column > Accept Changes

Save Schematics > Close Schematics > Open Schematics.

Tools > Update From Libraries

Review Schematic and BOM, fix as needed.

That's it !