Vagrant is a development VM manager that hosts lightweight development environments for identical conditions across a development team.
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Pro Scripts allow you to put your development environment in version control
Pro Simple bootstraping
Pro Reduces the amount of time needed for someone to set up their development machine
The most boring part of any new project is making sure that everyone can check out, build, and run the code. Vagrant smoothes out weird operating system and environment issues.
Pro Mock production more accurately
You can use Vagrant to control multiple VMs from a single Vagrantfile to better simulate production. Ex: Running a cluster of Riak nodes with individual IPs.