Plain English Meaning
Heat management is how a pilot keeps the engine from getting too hot or, in some cases, too cold. It is done by adjusting throttle, mixture, airspeed, and cooling controls so the engine stays in the temperature range the manufacturer says is safe.
Full Definition
The pilot's active control of engine and system temperatures during all phases of flight to keep them within manufacturer-specified operating limits. In a piston-engine airplane, this is achieved primarily through adjustments to power setting, mixture, cowl flaps (if installed), airspeed, and rate of climb or , so that , , and remain in their ranges.