Before creating a new version, run the Related Materials Report to check the impact the new version has on all initiatives (select the tool or piece of equipment and then Preview 
). This will let you know exactly where the tool or piece of equipment is currently in use/cited.
To version a tool or piece of equipment, select it in the list, then select Create New Version 
. Make the necessary changes to the details and Save them. Specifically, you need to change at least one of the following fields to successfully save a new version of the selected tool or piece of equipment:
•Title
•Part Number
•Version Text
After you created the new version, you can run the Impact Report (select the tools or equipment and then Preview ). This will list every initiative and place within the initiatives where any previous version of the selected tools or equipment is cited or used.
You can update 
to the latest version of a tool or piece of equipment in your initiative on the:
•TNA/TMD > Training Data > Resources screen, for tools or equipment listed in the TNA or TMD respectively. This will update the tool or piece of equipment to the latest version in your initiative.
•Resource Management screen on the Analysis/Design tabs under the Initiative Management folder, for any tool or piece of equipment cited or used anywhere in your initiative. This will update the tool or piece of equipment to the latest version in your initiative.
•Cited Resources screen for any tool or piece of equipment that are cited anywhere below the selected table of contents item on the Develop tab. This will update the tool or piece of equipment to the latest version only in the selected table of contents item or anywhere below it in the tree structure.
Select the tool or piece of equipment to update on your selected screen. Then select Update above the list to update to the latest version of the tool or piece of equipment. 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.