The Standards Hierarchy view gives you an overview of all standards in the selected bank.  Standards are organized first by content area, then by parent standard, and finally by child standard.  You can also switch to a flat view of parent or child standards by clicking on the "Hierarchy" page header.
To view and edit details for a standard, click on the title of the standard or use the more actions menu on the right.
To create a new child standard, click New Child Standard in the top right.
To create a new parent standard, click the More menu in the top right.
To bulk import or export standards, click the More menu in the top right and select import.  First import parent standards, then child standards.
To bulk edit or delete a property of child standards, select the standards using the checkboxes on the left and click the "# Selected" button in the top right.
These documents provide more in-depth information on managing standards:
Managing your Standards Banks over Time
Managing Parent Standards
Managing Child Standards