The Version Management tool removes unwanted versions of documents from the repository. This tool automates the Destroy and Prune methods.
Refer to Content Server Fundamentals for a discussion of how Documentum versioning works.
The Version Management tool removes only the repository object. It does not remove content files associated with the object. To remove the content files, use the DmClean tool, which is described in Dmclean (dm_DMClean).
The arguments you define for the tool determine which versions are deleted.
To generate a report on unwanted versions without deleting them, run the Version Management tool with the report_only argument set to TRUE.