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Memory management is the act of managing computer memory by allocating portions of memory to programs as well as freeing memory so that it can be re-used.

From Wikipedia:

Memory management is the act of managing computer memory. The essential requirement of memory management is to provide ways to dynamically allocate portions of memory to programs at their request, and freeing it for reuse when no longer needed. This is critical to the computer system.

Several methods have been devised that increase the effectiveness of memory management. Virtual memory systems separate the memory addresses used by a process from actual physical addresses, allowing separation of processes and increasing the effectively available amount of RAM using paging or swapping to secondary storage. The quality of the virtual memory manager can have an extensive effect on overall system performance.

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