The previous release folder is the folder where deliverables of the most recent release prior to the current release were written to. As long as you only have 1 release (the initial release), it is the folder where deliverables of the current release are being written to, ie., it equals the release folder (see next section).
When inputting values of Task Step Parameters of types "File or folder" and "SQL Command", you can refer to the previous release folder by using the ${previous} predefined source variable once you have initialised a release tree.
You can view the previous release folder by choosing Define, Source Variables, Predefined, and viewing the value of ${previous}.
The previous release folder changes each time you create a new release. It also changes when you revert to the previous release.
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