The fifth generation (5G) cellular wireless communication paradigm is expected to encompass many new technologies, including device-to-device (D2D) wireless communication. In D2D communication, two user devices can communicate directly, without the involvement of a network. Such communication has several advantages, including improved spectral efficiency and user experience. However, for such communication to be an integral part of the 5G network, efficient network management is essential. This paper presents a network management model for D2D communication in 5G networks. The proposed model comprises two parts: the D2D link management (DLM) and the resource management (RM). DLM is responsible for D2D link establishment, monitoring, and optimization. RM is responsible for the allocation of resources among multiple users and services. The model is based on a distributed architecture, with the base station acting as a resource management node. The system performance of the proposed model is evaluated through extensive simulation. The simulation results show that the proposed model can effectively manage D2D links and resources in 5G networks.