I wrote this a while ago but it didn't get posted cause my browser crashed. You can create Parameters from the relations editor, and some companies store all their data and format fill relations in the relations editor.
/* PARAMETER RELATIONS
OD = 8.50
THK = 1.0
ID = OD - (2*THK)
CREATED_BY = "M. COLE"
REV_LEVEL = "A"
This way you can fill in all the parameters with out using the Parameter Dialog. If you then decided to change OD to OUTER_DIA you can do a search & replace to update the parameter name and any relations driven by the parameter and can change the names and automatically have the correct value. I've always been annoyed that Pro/E can't allow you to change a parameter name and then have it update where ever it is used but Peter Stock's method does the same thing. I just thought I'd mention another way that parameters are used in a relation editor. Saving a file with all the parameter relations in it allows you to add your company parameters from any models not made from your start part.
Either way you have to find and replace the old name with the new, and search replace may help save time.
Michael