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Some companies have only one version of each use case. They just continually evolve the use cases, adding more detail over time, but do not save previous versions. Other companies maintain multiple versions of the same use case for different reasons. One version of the use case could be at a business-process level to help define corporate policies and procedures. Another version of the use case could be kept to create user manuals of the software and white box test plans. And yet another version of the use case could be given to development staff to create the software and black box test plans.
When different versions of the same use case need to be kept for different purposes, you may have a problem keeping them all up to date with each other. The larger your system is, the larger the problem of keeping all the documentation consistent.