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What is RSV?
RSV is a highly contagious viral disease that causes acute respiratory illness leading to mild cold-like symptoms. These include cough, stuffy nose, fever, difficulty breathing, nasal flaring, rapid breathing, wheezing, and a bluish color around the mouth. Although it can affect all age group, young children, especially pre-term infants, can experience more serious complications. Most infants experience the disease by age 2, but the infection usually goes away without requiring special attention. However, it can lead to bronchiolitis, pneumonia, and even lung failure when it becomes severe. Thus, infants with born premature, with lung disease, with suppressed immune system, or with heart disease should receive a special care.
From rsvprotection.com

Prevention:
Preventing your child from getting sick is the best management strategy.

From cdc.gov

Medications:
Ribavirin Synagis

Additional resources:
https://www.rsvprotection.com/
http://kidshealth.org/en/parents/rsv.html
https://www.nlm.nih.gov/medlineplus/ency/article/001564.htm
http://www.cdc.gov/rsv/
http://www.lung.org/lung-health-and-diseases/lung-disease-lookup/rsv/rsv-symptoms-causes-risk.html

References:
www.uptodate.com
https://www.nlm.nih.gov/medlineplus/ency/article/001564.htm