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What are some best practices for library management?

Most CAD packages use a "symbol" and "footprint" library approach when it comes to designing schematics and PCBs. Some (like recent versions of Altium) have "component" libraries where symbols and footprints can be assigned to a component which is then stored in a library.

Furthermore, a designer can use global libraries or local libraries specific to a project.

All of the above presents a challenge in component management. Therefore, I am interested in what the best practices for library management are like, namely:

 * When is it better to use global vs local libraries?

 * How to deal with footprints of the same type (e.g. QFN64) but with slightly varying dimensions as a result of manufacturer guidelines?

 * How to keep track of 3D models of the components?

I am also interested in hearing about general best practices for library & component management.