The operating system manages processes and resources. A process is a program in execution that requires computer resources. There may be multiple processes requiring the same resource at the same time. The operating system schedules processes, creates and deletes processes, and handles process synchronization and communication. Processes can be in one of five states: new, ready, running, waiting, or terminated. The operating system uses a process control block to store attributes of each process like its ID, state, priority, registers, open files, and accounting information to manage switching between processes.