Maven has a very useful utility to quickly update the version of your project, you can just run this Maven command:
mvn versions:set -DnewVersion=1.2.0-SNAPSHOT
This will update the version of your current project and its sub projects to "1.2.0-SNAPSHOT". This will save the previous version in backup files so you can revert back with this command:
mvn versions:revert
If you are happy with the results and want to get rid of the backup files, just do a commit with:
mvn versions:commit