You should be familiar with project areas, configuration spaces, snapshots, workspaces, and change sets, which are described in Management of shared design resources.
In a serial development environment, you share one workspace with other team members.
In a parallel development environment, you might have your own workspace and you deliver changes to a parent workspace that is visible to other team members; or you might share one workspace with other team members and you must deliver changes to a parent workspace that is visible to other teams.