Information management is an important requirement in today"s world. The anaphoric references hide the important information. The identification of anaphorically referred information is called as anaphora resolution which has significant impact on increasing the efficiency of information management, techniques including text summarization, information extraction etc. In this paper we have proposed a method for anaphora resolution to engineer information management. The proposed method acceptably determines the potential referents of the anaphora specially of the verb phrase form, distinguishes between pleonastic "it" and the anaphoric "it" and resolve the anaphora which is referred to after an interval of multiple sentences. The referents are stored in a list in the order of their occurrence in the discourse and eliminated from the list if they are not referred for to long. "Recency" is used as a salience factor to select the correct referent if other information like gender, number and type are not suffices to estimate the correct referent for an anaphor. To achieve a more precise resolution system WordNet lexical database is exploited to compare the synonyms of the anaphor with its possible referents.