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Deployment, in the context of network administration, refers to the process of setting up a new computer or system to the point where it ready for productive work in a live environment.
Deploy can refer to any type of installation. For example, this could be setting up a new LAN, building a server, installing software, etc. The key point is that no matter how much planning is done, the actual rolling out of new products is where a new project truley succeeds or fails. Everything looks good on paper, but its a live environment with real users that is the true test for any system.