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Problem Management involves identifying, analyzing, and resolving software issues in order to minimize their impact on operations. It focuses on restoring normal service operation as quickly as possible while also preventing future occurrences of similar problems. As part of Corrective Maintenance within Software Maintenance, Problem Management plays a crucial role in ensuring software reliability and availability by addressing defects that have already manifested themselves in the production environment. By proactively managing issues, organizations can reduce downtime, improve user satisfaction, and optimize overall system performance.