With Update 16 you can take advantage of One Configuration which is a unified configuration system for multiple Bentley products.
A Configuration is a container of project data and enables the creation of a custom work environment to optimize user productivity.
If you are a user or an organization using multiple Bentley products along with, you will now have a single Configuration folder that can be shared by the different Bentley products without any conflict. Changes have been made to the delivered configuration files to enable this. This change will NOT impact your existing configurations. One Configuration works with WorkSpaces, utilizing Configuration Sets that use various combinations of standards to meet your organization's needs. These Configuration Sets can also be easily adopted by other organizations that you work with.
Difficulties arise when different products, that are delivered with discipline specific datasets and configurations, try to utilize the same WorkSpace and WorkSet standards folders that may not provide the correct resources or configuration to each product. One Configuration attempts to solve this by moving product-specific configurations to product-specific folders.
To know what else is new in this update read New in MicroStation CONNECT Edition Update 16.
You can peek at the Update 16 highlights in this short video.