Two more resources about how to decide using umbrella projects:
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Adopting Elixir book (see “Dividing Applications” page): https://books.google.nl/books?id=F_tUDwAAQBAJ&pg=PT131&dq=adopting+elixir+“dividing+applications”&hl=en&sa=X&ved=0ahUKEwilruDj3r_eAhVJjqQKHdaFD-AQ6AEIKjAA#v=onepage&q=“dividing%20applications”&f=false
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Umbrellas: only when it rains? (Elixir School blog post): https://elixirschool.com/blog/umbrellas-just-when-it-rains/