First and foremost the documentation here is pretty good so take a pass through the basic information at CLM 4.0.4 Information Center. I would recommend you familiarize yourself with the basic concepts of Jazz SCM if you have not, first read through the overview¹ then confirm you understand the core concepts:

• Jazz “workspace” vs Eclipse “workspace” - Workspaces and Sandboxes
• stream vs workspace - Streams and components
• remote workspace vs local workspace - Workspaces and Sandboxes
• Understand what changesets are - Changesets
• Understand how changes flow - Changesets and Change Flow

This article is strictly focused on a the slightly more complex scenario beyond your happy path accept and deliver scenarios, where you have conflicts. Check out the Information Center for an introductin here Change flow, conflict detection, and conflict resolution, but honestly this is pretty light for the material this post is meant to extend upon this a bit more for the various clients.