Before creating a new version, run the Related Materials Report to check the impact the new version has on all initiatives (select the IMM and then Preview 
). This will let you know exactly where the IMM is currently in use/cited.
To version an IMM, select it in the list, then select Create New Version 
. Make the necessary changes to the details, upload the latest associated file, and Save the new version of the IMM. Specifically, you need to change at least one of the following fields to successfully save a new version of the selected IMM, just uploading a new version of the associated file is not enough:
•Title
•Number
•Version Text
After you created the new version, you can run the Impact Report (select the IMM and then Preview ). This will list every initiative and place within the initiatives where any previous version of the selected IMM is cited or used.
You can update 
to the latest version of an IMM in your initiative on the:
•TNA/TMD > Training Data > Resources screen, for IMMs listed in the TNA or TMD respectively. This will update the IMM to the latest version in your initiative.
•Resource Management screen on the Analysis/Design tabs under the Initiative Management folder, for any IMM cited or used anywhere in your initiative. This will update the IMM to the latest version in your initiative.
•Cited Resources screen for any IMM that are cited anywhere below the selected table of contents item on the Develop tab. This will update the IMM to the latest version only in the selected table of contents item or anywhere below it in the tree structure.
Select the IMM to update on your selected screen. Then select Update above the list to update to the latest version of the IMM. Any flags will change from New Version flags 
to System flags 
to help you find the places to check for possible updates to the content.