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Configuration item:

It is the information that is created as part of the software engineering process.

Version:

A release of the System with some specific type of functional changes applied on it. It is the same product with some changes like; fixed defects or add features.

Variant:

Variant is the product different from the other product which belongs to the same system.

An asset X' represents a variant if it has been derived from an asset X and has stakeholder relevant properties which differ from other variant assets derived from the same asset X.

Configuration:

Computing hardware and its connections etc. also it is a software file used to configure the initial settings for a computer program.

Base line:

When released to configuration management, software system is called base line and serves as the starting point for further development.

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Q: What is difference between software version and software variants?
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