By using these words you can end any conversation, denote the finish of a project, or excuse yourself from any situation with authority. It's almost like... magic.
"I'll see you guys on Tuesday at 5:00. Mischief managed!"

"Finally the dishes are done! Mischief managed!"

"Professor Snape is coming, put away the Marauder's Map! Mischief managed!"
by pickleicious13 July 27, 2011
Phrase used to 'close' the Marauders Map, making it blank and causing it to appear as a normal piece of parchment until the words "I solemnly swear I am up to no good" are spoken, which activate it. (Part of the Harry Potter book series)
"As Sirius Black noticed Snivellus Snape come around the corner, he cried 'Mischief Managed' and the Marauders Map became blank."
A palace dedicated to the Harry Potter world. Really awesome where kids can go get sorted and get dorms and take classes and eat in the great hall every night. The palace gets over 50 members per day which makes it awesome.
Mischief Managed is soooo coool.
Have you gotten sorted at Mischief Managed yet?
Mischief Managed makes me want to stay up all night!
by Harry Potterrzzz June 10, 2006