This paper conceptualizes Integrated Flood Management (IFM) as a subset of Integrated Water Resources Management (IWRM) and describes the interplay between floods and the development process. It takes a look at traditional flood management options from the IFM angle and identifies the major challenges encountered by flood plain managers and decision makers before describing the basic tenets and requirements of IFM. The concept paper is to be followed by a series of supplementary papers going into further detail about different aspects of IFM to help flood managers and decision makers implement the concept.