Release and Deployment Management is a process identified by ITIL framework. It is a part of Service Transition life cycle. The purpose is "to build, test and deliver the capability to provide the services specified by Service Design[...]."
Release Management definition:
The Process responsible for Planning, scheduling and controlling the movement of Releases to Test and Live Environments. The primary Objective of Release Management is to ensure that the integrity of the Live Environment is protected and that the correct Components are released. Release Management is part of the Release and Deployment Management Process.
Also see Deployment.
The types of environments, both logical and physical, required during release and deployment include:
Reference: ITIL v3, Service Transition, p.93
Also see Environments page.
Some of the best practices for Release Management include the following components: