System and method for managing hardware configuration parameters

A system and method manages configuration data within a hardware component of a device to support hardware component changes during development or manufacture of the device. A Standardized Virtual Part (SVP) file is formed as a binary file and includes a SVP header that comprises metadata of one of at least schema version, revision numbers, part numbers, creator and description. The SVP file also includes hardware configuration data and a SVP trailer that includes error checking data for data authentication. The SVP file is loaded onto the device during development or manufacture for configuring the hardware component.