How to configure a static IP address on CentOS 7 / RHEL 7

I am a new sysadmin and CentOS user. My system is configured to use DHCP. How can I switch from DHCP to static IP address configuration in a CentOS 7 desktop system? How do I setup a static TCP/IP address on my CentOS Linux 7 or Red Hat Enterprise Linux 7 server using command line option?