diff --git a/.github/workflows/cpp-python-build.yml b/.github/workflows/cpp-python-build.yml
index 6d58a72d4d..e5be72562e 100644
--- a/.github/workflows/cpp-python-build.yml
+++ b/.github/workflows/cpp-python-build.yml
@@ -865,7 +865,7 @@ jobs:
           git config --global user.name "github-actions[bot]"
           git config --global user.email "41898282+github-actions[bot]@users.noreply.github.com"
           git checkout $BRANCH_NAME
-          git commit -m "Bump version" CMakeLists.txt README.md matlab/README.md JSBSim.vcxproj JSBSimForUnreal.vcxproj
+          git commit -m "Bump stable release version" CMakeLists.txt README.md matlab/README.md JSBSim.vcxproj JSBSimForUnreal.vcxproj
           git push origin $BRANCH_NAME
 
       # Bump stable version of the `master` branch
@@ -877,13 +877,18 @@ jobs:
       - name: Bump stable version in README.md
         working-directory: _master
         run: |
+          # Increment the value of PROJECT_VERSION_PATCH
+          sed -ri 's/(set\(PROJECT_VERSION_PATCH\s\")([0-9]+).*/echo "\1\\"$((\2+1))\.dev1\\"\\)/ge' CMakeLists.txt
           # Update references to the current stable version in README.md
           sed -ri 's/_'"$OLD_VERSION"'-[0-9]+.amd64.deb/_'"$VERSION"'-'"$GITHUB_RUN_NUMBER"'.amd64.deb/g' README.md
           sed -ri 's/'"$OLD_VERSION"'/'"$VERSION"'/g' README.md
           sed -ri 's/'"$OLD_VERSION"'/'"$VERSION"'/g' matlab/README.md
+          # Update the MSVC project files.
+          sed -ri 's/JSBSIM_VERSION=".*"/JSBSIM_VERSION="'$FUTURE_VERSION'.dev1"/g' JSBSim.vcxproj
+          sed -ri 's/JSBSIM_VERSION=".*"/JSBSIM_VERSION="'$FUTURE_VERSION'.dev1"/g' JSBSimForUnreal.vcxproj
           # Update the MSVC version
           sed -ri 's/Visual Studio\s[A-Za-z0-9 ]+\s\(build\s[0-9.]+\)/'"$MSVC_VERSION"'/g' matlab/README.md
-          git commit -m "Bump stable release version" README.md matlab/README.md
+          git commit -m "Bump version" CMakeLists.txt README.md matlab/README.md JSBSim.vcxproj JSBSimForUnreal.vcxproj
           git push origin master
 
   Documentation:
diff --git a/CMakeLists.txt b/CMakeLists.txt
index b80cfad094..410e0416ea 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -7,7 +7,7 @@ project(JSBSim)
 
 set(PROJECT_VERSION_MAJOR "1")
 set(PROJECT_VERSION_MINOR "2")
-set(PROJECT_VERSION_PATCH "0.dev1")
+set(PROJECT_VERSION_PATCH "1.dev1")
 set(PROJECT_CONTACT_EMAIL "jsbsim-devel@lists.sourceforge.net")
 set(PROJECT_CONTACT_VENDOR "The JSBSim team")
 
diff --git a/JSBSim.vcxproj b/JSBSim.vcxproj
index 773ad57ec2..77c666192c 100644
--- a/JSBSim.vcxproj
+++ b/JSBSim.vcxproj
@@ -81,7 +81,7 @@
     <ClCompile>
       <Optimization>Disabled</Optimization>
       <AdditionalIncludeDirectories>$(ProjectDir)src;$(ProjectDir)src\simgear\xml;%(AdditionalIncludeDirectories)</AdditionalIncludeDirectories>
-      <PreprocessorDefinitions>JSBSIM_STATIC_LINK;JSBSIM_VERSION="1.2.0.dev1";WIN32;NOMINMAX;_DEBUG;_CONSOLE;HAVE_EXPAT_CONFIG_H;_USE_MATH_DEFINES;%(PreprocessorDefinitions)</PreprocessorDefinitions>
+      <PreprocessorDefinitions>JSBSIM_STATIC_LINK;JSBSIM_VERSION="1.2.1.dev1";WIN32;NOMINMAX;_DEBUG;_CONSOLE;HAVE_EXPAT_CONFIG_H;_USE_MATH_DEFINES;%(PreprocessorDefinitions)</PreprocessorDefinitions>
       <MinimalRebuild>false</MinimalRebuild>
       <BasicRuntimeChecks>EnableFastChecks</BasicRuntimeChecks>
       <RuntimeLibrary>MultiThreadedDebugDLL</RuntimeLibrary>
@@ -115,7 +115,7 @@
     <ClCompile>
       <Optimization>Disabled</Optimization>
       <AdditionalIncludeDirectories>$(ProjectDir)src;$(ProjectDir)src\simgear\xml;%(AdditionalIncludeDirectories)</AdditionalIncludeDirectories>
-      <PreprocessorDefinitions>JSBSIM_STATIC_LINK;JSBSIM_VERSION="1.2.0.dev1";WIN32;NOMINMAX;_DEBUG;_CONSOLE;HAVE_EXPAT_CONFIG_H;_USE_MATH_DEFINES;%(PreprocessorDefinitions)</PreprocessorDefinitions>
+      <PreprocessorDefinitions>JSBSIM_STATIC_LINK;JSBSIM_VERSION="1.2.1.dev1";WIN32;NOMINMAX;_DEBUG;_CONSOLE;HAVE_EXPAT_CONFIG_H;_USE_MATH_DEFINES;%(PreprocessorDefinitions)</PreprocessorDefinitions>
       <MinimalRebuild>false</MinimalRebuild>
       <BasicRuntimeChecks>EnableFastChecks</BasicRuntimeChecks>
       <RuntimeLibrary>MultiThreadedDebugDLL</RuntimeLibrary>
@@ -151,7 +151,7 @@
       <FavorSizeOrSpeed>Speed</FavorSizeOrSpeed>
       <WholeProgramOptimization>true</WholeProgramOptimization>
       <AdditionalIncludeDirectories>$(ProjectDir)src;$(ProjectDir)src\simgear\xml;%(AdditionalIncludeDirectories)</AdditionalIncludeDirectories>
-      <PreprocessorDefinitions>JSBSIM_STATIC_LINK;JSBSIM_VERSION="1.2.0.dev1";WIN32;NOMINMAX;NDEBUG;_CONSOLE;HAVE_EXPAT_CONFIG_H;_USE_MATH_DEFINES;%(PreprocessorDefinitions)</PreprocessorDefinitions>
+      <PreprocessorDefinitions>JSBSIM_STATIC_LINK;JSBSIM_VERSION="1.2.1.dev1";WIN32;NOMINMAX;NDEBUG;_CONSOLE;HAVE_EXPAT_CONFIG_H;_USE_MATH_DEFINES;%(PreprocessorDefinitions)</PreprocessorDefinitions>
       <BasicRuntimeChecks>Default</BasicRuntimeChecks>
       <RuntimeLibrary>MultiThreadedDLL</RuntimeLibrary>
       <EnableEnhancedInstructionSet>StreamingSIMDExtensions2</EnableEnhancedInstructionSet>
@@ -193,7 +193,7 @@
       <FavorSizeOrSpeed>Speed</FavorSizeOrSpeed>
       <WholeProgramOptimization>true</WholeProgramOptimization>
       <AdditionalIncludeDirectories>$(ProjectDir)src;$(ProjectDir)src\simgear\xml;%(AdditionalIncludeDirectories)</AdditionalIncludeDirectories>
-      <PreprocessorDefinitions>JSBSIM_STATIC_LINK;JSBSIM_VERSION="1.2.0.dev1";WIN32;NOMINMAX;NDEBUG;_CONSOLE;HAVE_EXPAT_CONFIG_H;_USE_MATH_DEFINES;%(PreprocessorDefinitions)</PreprocessorDefinitions>
+      <PreprocessorDefinitions>JSBSIM_STATIC_LINK;JSBSIM_VERSION="1.2.1.dev1";WIN32;NOMINMAX;NDEBUG;_CONSOLE;HAVE_EXPAT_CONFIG_H;_USE_MATH_DEFINES;%(PreprocessorDefinitions)</PreprocessorDefinitions>
       <BasicRuntimeChecks>Default</BasicRuntimeChecks>
       <RuntimeLibrary>MultiThreadedDLL</RuntimeLibrary>
       <EnableEnhancedInstructionSet>StreamingSIMDExtensions2</EnableEnhancedInstructionSet>
diff --git a/JSBSimForUnreal.vcxproj b/JSBSimForUnreal.vcxproj
index 81cbdf7777..0db39e6b28 100644
--- a/JSBSimForUnreal.vcxproj
+++ b/JSBSimForUnreal.vcxproj
@@ -56,7 +56,7 @@
     <ClCompile>
       <Optimization>Disabled</Optimization>
       <AdditionalIncludeDirectories>$(ProjectDir)src;$(ProjectDir)src\simgear\xml;%(AdditionalIncludeDirectories)</AdditionalIncludeDirectories>
-      <PreprocessorDefinitions>JSBSIM_EXPORT;JSBSIM_VERSION="1.2.0.dev1";WIN32;NOMINMAX;XML_STATIC;NDEBUG;_CONSOLE;HAVE_EXPAT_CONFIG_H;_USE_MATH_DEFINES;%(PreprocessorDefinitions)</PreprocessorDefinitions>
+      <PreprocessorDefinitions>JSBSIM_EXPORT;JSBSIM_VERSION="1.2.1.dev1";WIN32;NOMINMAX;XML_STATIC;NDEBUG;_CONSOLE;HAVE_EXPAT_CONFIG_H;_USE_MATH_DEFINES;%(PreprocessorDefinitions)</PreprocessorDefinitions>
       <MinimalRebuild>false</MinimalRebuild>
       <BasicRuntimeChecks>EnableFastChecks</BasicRuntimeChecks>
       <RuntimeLibrary>MultiThreadedDLL</RuntimeLibrary>
@@ -107,7 +107,7 @@ exit/B %errlev%</Command>
       <FavorSizeOrSpeed>Speed</FavorSizeOrSpeed>
       <WholeProgramOptimization>true</WholeProgramOptimization>
       <AdditionalIncludeDirectories>$(ProjectDir)src;$(ProjectDir)src\simgear\xml;%(AdditionalIncludeDirectories)</AdditionalIncludeDirectories>
-      <PreprocessorDefinitions>JSBSIM_EXPORT;JSBSIM_VERSION="1.2.0.dev1";WIN32;NOMINMAX;XML_STATIC;NDEBUG;_CONSOLE;HAVE_EXPAT_CONFIG_H;_USE_MATH_DEFINES;%(PreprocessorDefinitions)</PreprocessorDefinitions>
+      <PreprocessorDefinitions>JSBSIM_EXPORT;JSBSIM_VERSION="1.2.1.dev1";WIN32;NOMINMAX;XML_STATIC;NDEBUG;_CONSOLE;HAVE_EXPAT_CONFIG_H;_USE_MATH_DEFINES;%(PreprocessorDefinitions)</PreprocessorDefinitions>
       <BasicRuntimeChecks>Default</BasicRuntimeChecks>
       <RuntimeLibrary>MultiThreadedDLL</RuntimeLibrary>
       <EnableEnhancedInstructionSet>StreamingSIMDExtensions2</EnableEnhancedInstructionSet>