There isn't any OOB tool available, however there are few white papers available on how to do what, so essentially you need to go through a custom developed solution and SDK should be the best point to start with wherein it would give you the details
of the PSI exposed for getting started with custom solution
For starting point look at these white papers :
MS Dynamics AX 2010 white paper : MS Project Server 2010 Integration -
http://www.microsoft.com/download/en/details.aspx?id=15671
MS Dynamics AX 2009 and Project Server 2007 :
http://blogs.msdn.com/b/chrisfie/archive/2008/06/12/microsoft-dynamics-ax-2009-and-project-server-2007.aspx
MS Dynamics AX 2009 White Paper Integration with MOPS 2007 :
http://www.microsoft.com/download/en/details.aspx?displaylang=en&id=2125
Some 3rd Party Tools :
http://community.dynamics.com/product/gp/f/32/p/37038/65400.aspx
Let us know if this helps
Thanks | Sunil Kr Singh | http://epmxperts.wordpress.com