A configuration management system and method for adding or replacing devices in a bus in a computer system. The configuration system creates and maintains a memory structure having bus and device configuration information. The system includes a configuration manager which creates a memory structure containing configuration information for a bus and devices located on the bus within the computer system in which it operates. When a device on the bus is replaced, the configuration manager retrieves the configuration information for the replacement device from the memory structure and uses that information to configure the replacement device. In another aspect of the invention, when a device is added on the bus in the computer system, the configuration manager retrieves selected configuration information for the added device from the memory structure and uses that information to configure the added device.