upgrading dbt version to a higher version

Hi Team,

We use dbt cli and dbt cloud both. We are currently on a very old version in dbt cli. We want to upgrade to little higher version. I went thru -usage of require-dbt-version in dbt cloud env. and How to Upgrade dbt Versions (Mostly) Without Fear | dbt Developer Blog.
Have some questions-
1- In our dbt_project.yml- we have -

version: ‘1.0.0’
config-version: 2
2- In enviornment.yml-we have

  • dbt==1.0.4
    • dbt-bigquery==1.0.4
    • dbt-core==1.0.4
    • dbt-extractor==0.4.0
    • dbt-postgres==1.0.4
    • dbt-redshift==1.0.4
    • dbt-snowflake==1.0.4s
      so we are currently on 1.0.4 from the project perspective right?

2-Do we need to add require-dbt-version: “>=0.17.2” (not .17 , any lower version) to dbt_project.yml file or we can change version in enviornment file ?

3- Kindly suggest how should we proceed with version upgrade.

If needed I can provide you with account details.

Neha Rastogi