The modern reservoir management process involves goal setting, planning, implementing, monitoring, evaluating, and revising plans. Setting a reservoir management strategy requires knowledge of the reservoir, technology, and an understanding of the business, political, and environmental climates. Formulating a comprehensive management plan involves depletion and development strategies, data acquisition and analyses, geological and numerical model studies, production and reserves forecasts, knowledge of facilities requirements, economic optimization, and management approval. Implementing the plan requires management support; field personnel commitment; and multidisciplinary, integrated teamwork. Project success depends on careful monitoring/surveillance and thorough ongoing evaluation of its performance. If the actual performance of the project does not agree with the expected performance, the original plan should be revised and the cycle (implementing, monitoring, and evaluating) reactivated. This paper presents sound reservoir management concepts and methods including a team approach based on integration of geoscience and engineering professionals, tools, technology, and data.