1. A method for replicating and synchronizing one or more data sets with a master data set, the method comprising: providing, by a design data management (“DDM”) computer system, management of a master data set and at least one clone data set, and copying a master physical design data set into one or more physical instances, including storing said one or more physical instances of the master physical design data set in a data repository accessible by the DDM computer system to enable customization of said one or more physical instances, and wherein the method includes: identifying one or more design elements to serve as said master data set, and for said master data set: a. defining the number of and data type of said at least one clone data set for said master data set, and b. identifying respective name and instance nomenclature for each of said at least one clone data set; and employing an automated process of the DDM computer system to create said clone data sets by replicating said master data set, wherein the identified one or more design elements participate in the replicating; providing for associated pedigree information to establish a linkage between said master and clone data sets; enabling a deposit into the DDM computer system of one or more additional data sets corresponding to the one or more design elements participating in the replicating, wherein said one or more additional data sets include additional physical design data sets, and: a. independently altering said physical design data sets and/or b. customizing each of said physical design data sets pertaining to each of said clone data set; utilizing an iteration monitor of the DDM computer system to automatically detect updates to said master data set; further replicating said updated master data set into at least one new iteration of a corresponding one of the at least one clone data set; employing a design data management audit to ensure said master data set is properly synchronized to each corresponding one of the at least one clone data set; and performing, by the DDM computer system, a file compare of the at least one clone data set against the master data set to ensure all content is identical for replicating and synchronizing one or more data sets with a master data set.