Originally posted by rgbaz
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In the current situation it might work just, because the two versions of V-Ray you're using are the same, but if they aren't you might get random crashes, failures to load V-Ray and other unpleasant problems that are hard to debug.
Generally the idea is to start Maya from a script (batch, python, etc) and in this script to set all environment variables to the appropriate values for the Maya version/V-Ray version you want to run.
In your case you'll have two scripts one for 2015 and one for 2016.
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