The focus of the present work is to perform detailed parametric studies for electronic thermal management systems using different carbon foam structures of different porosities and skeleton thermal conductivities saturated with different phase change materials (PCMs) of different fusion temperatures, heat of fusions and thermal conductivities. Different thicknesses of thermal management modules and power densities levels are also included in the parametric study. The analysis was carried out using a validated finite element numerical model based on volume averaging technique and single-domain energy equation. The results show that decreasing CF and PCM thermal conductivities, increasing carbon foam porosity and increasing module height increase the module temperature and delay the approaching steady state temperature. The transient module temperature decreased and the time of approaching steady state temperature is delayed with increasing PCM heat of fusion. However the module fusion temperature does not show any strong effect on module temperature. Design guidelines for selecting the combinations of CF/PCM thermo-physical properties are presented for different operating conditions and power levels.