These days PLM and PDM are a part of product development. All activities of a product from start to finish are recorded here effectively.
But PLM is used mostly by big companies in the industry. Many of the small companies still do not have PLM or PDM to track the changes in the product.
Talking about the CAD, ProE / Creo has got some inbuilt options to see the changes made to the product. We can see the information like the version of the part, who modified the part, comments for that change and date & time here. To see that do the following.
In ProE 4.0 and previous versions, go to Info → Audit trail from the main menu.
In ProE 5.0, go to Info → File history from the main menu.
In Creo, go to Tools tab → Expand the Investigate and click on file history.