The purpose of this project was to conduct a literature search on the topic “managing virtual teams”. Based on this search the most important issues relevant to the actual topic have been identified, categorized, and presented in the form of quotations. A short summary of the most important issues is also provided, although time constraints did limit the depth of this discussion. The paper is organized as follows: After the introduction some basic definitions are provided. This is followed by a short summary of the most important issues related to the topic “managing virtual teams”. The summary is followed by the main part of the paper organizing the quotations in the four categories; technology, communication, culture & leadership. These categories match what Kayworth and Leidner (2000) identify as four significant challenges in globally dispersed teams.