virt-manager also known as Virtual Machine Manager, is a graphical tool for creating and managing guest virtual machines. Procedure:
open terminal and type command
#yum install virt-manager*
Open virt-manager
# virt-manager

Type in a virtual machine name and choose an installation type
and click
.

chose Local ISO image installation and click
.

Configuring CPU and memory and click
.

Configuring storage- Assign storage to the guest virtual machine.

Verify the settings of the virtual machine and click
when you are satisfied; doing so will create the virtual machine with
default networking settings, virtualization type, and architecture.
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