what is the NetworkManager?

Hi! I used the openSuSE 10.1 beta1 , found a new tools (compared with SuSE10) NetworkManager. what is the NetworkManager,when could I use that. I have a network card using static IP usually in my laptop, and sometimes I used wireless to get internet by my laptop . Can I use the NetworkManager switch them ? How can config a static IP for my network card ( no wireless )by NetworkManager. I only can start the wireless using NetworkManager. Thanks!