You can't manage them the same... they may reside in different regions of the world, with different cultures.
By not being in the same place, they're not able to see each other's facial expressions, or have informal conversation and thus get to know each other and work out differences of opinion.
Virtual teams have to have some of the same clarity of purpose of the team charter, along with how to implement the plan that a physical team would have.
They must agree upon how to measure success, on deliverables and timeline for completion that a physical team would. Communication is just as vital, if not more important. And the means of technology must be consistent along all lines to ensure this.