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Abstract: The article deals with the notion «self-management» as a key competence of a higher school graduate, as an ability to manage his/her development and self-development and its components. The author points out stages of forming self-management competence, gives the notion «competence» and «key competences» (they are a key and the basis for special and subject-oriented) as general (universal) culturally developed ways of action (abilities and skills), which allow to realize a situation, achieve results in personal and professional life in conditions of contemporary society. They are gained as a result of successful usage of skills which a student gets in educational process. The author studies development of student’s personality and his/her self-development, analyses notion «development» (personal, social, psychiatric) as one of the most important ways of existence of a human being. It is not limited in time and exists on every level of a person’s life and depends on conditions of person’s life and his/her necessity in self-development (integral characteristics of his/her wishes and abilities to positive changes: self-cognition, self-development) and orientation on self-development of personal qualities such as belief in himself, self-esteem, kindness, tolerance, accuracy, activity, variety of interests, responsibility.