We live at the dawn of a golden age of hardware development. The tools being built are powerful, fast, and focused on saving money and time but not necessarily with an intuitive user interface. Git has a reputation for being clunky and severe, but everyone participating in the tool-building ecosystem has taken Git a long way from its command line only roots.
Revision control is a continuous process, with every change and edit tracked, allowing you to pick and choose each of these edits to create a new change. Meanwhile, releases give the ability to point to a specific moment in the change history without ambiguity.
Hardware project management is one of the most important facets of delivering reliable hardware under budget and on time. It is critical to be able to capture all of the things your team wants to work on and schedule who works on what and when.