diff --git a/CMakeLists.txt b/CMakeLists.txt
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -1,16 +1,7 @@
 CMAKE_MINIMUM_REQUIRED(VERSION 2.6)
 
-#EXECUTE_PROCESS(
-#  COMMAND hg id -i
-#  OUTPUT_VARIABLE HG_REVISION
-#  OUTPUT_STRIP_TRAILING_WHITESPACE)
-
 SET(PROJECT_NAME "LEMON")
-SET(PROJECT_VERSION_MAJOR "0")
-SET(PROJECT_VERSION_MINOR "99")
-SET(PROJECT_VERSION_PATCH "0")
-SET(PROJECT_VERSION
-  "${PROJECT_VERSION_MAJOR}.${PROJECT_VERSION_MINOR}.${PROJECT_VERSION_PATCH}")
+SET(PROJECT_VERSION "hg-tip" CACHE STRING "The version string.")
 
 PROJECT(${PROJECT_NAME})
 
@@ -39,15 +30,12 @@
     "LEMON - Library of Efficient Models and Optimization in Networks")
   SET(CPACK_RESOURCE_FILE_LICENSE "${CMAKE_SOURCE_DIR}/LICENSE")
 
-  SET(CPACK_PACKAGE_VERSION_MAJOR ${PROJECT_VERSION_MAJOR})
-  SET(CPACK_PACKAGE_VERSION_MINOR ${PROJECT_VERSION_MINOR})
-  SET(CPACK_PACKAGE_VERSION_PATCH ${PROJECT_VERSION_PATCH})
   SET(CPACK_PACKAGE_VERSION ${PROJECT_VERSION})
 
   SET(CPACK_PACKAGE_INSTALL_DIRECTORY
-    "${PROJECT_NAME} ${PROJECT_VERSION_MAJOR}.${PROJECT_VERSION_MINOR}")
+    "${PROJECT_NAME} ${PROJECT_VERSION}")
   SET(CPACK_PACKAGE_INSTALL_REGISTRY_KEY
-    "${PROJECT_NAME} ${PROJECT_VERSION_MAJOR}.${PROJECT_VERSION_MINOR}.${PROJECT_VERSION_PATCH}")
+    "${PROJECT_NAME} ${PROJECT_VERSION}")
 
   # Variables to generate a component-based installer.
   #SET(CPACK_COMPONENTS_ALL headers library html_documentation)