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Version management, using a tool such as CVS, is only a small part of configuration management. CM encompasses much more.
A good configuration management system allows you to precisely duplicate any desired release of the software, consistently and automatically. This is a great benefit to software quality, allowing your QA department to easily and reliably test your software.
You're working on version 2.3, and a client reports a problem with version 2.1? No problem, with effective configuration management. Recreating any given version allows you to track down bugs in prior versions of the software, so that you can quickly track down the issue and release a patch for the affected software, allowing your clients to get on with their jobs. All this, without interrupting the important work on your next version.
Before the release, of course, you must build the software. Automated build systems improve your ability to consistently produce the correct software.
And, of course, a key component to a good configuration management setup is your version management software.
Every development team has different styles and philosophies. Dreampossible's experts can help you set up your configuration management effectively, tailored to your team's requirements.