Set static IP to Linux VM

If you are decided to not use DHCP to obtain IP dynamically for your linux box, you can set the IP manually as below.

Edit respecting ifcfg-eth* file of your network card and insert following entries in the file:

for network card eth0:

# vi /etc/sysconfig/network-scripts/ifcfg-eth0

DEVICE=eth0
TYPE=Ethernet
ONBOOT=yes
NM_CONTROLLED=yes
BOOTPROTO=none
NETWORK=10.8.227.0
NETMASK=255.255.255.192
IPADDR=10.8.227.50
DNS1=10.8.224.13
GATEWAY=10.8.227.62
IPV6INIT=no
USERCTL=no

And replace you IP, netmask, gateway and dns(if any) with your addresses. 

Reactive your network card or restart you network service:

# ifdown eth0

# ifup eth0

or 

/etc/init.d/network restart

There you can see your new network settings and try t ping your gateway to make sure of connection:

# ifconfig eth0

eth0      Link encap:Ethernet  HWaddr 00:50:56:B7:3B:F7

          inet addr:10.8.227.50  Bcast:10.8.227.63  Mask:255.255.255.192

          inet6 addr: fe80::250:56ff:feb7:3bf7/64 Scope:Link

          UP BROADCAST RUNNING MULTICAST  MTU:1500  Metric:1

          RX packets:9621 errors:0 dropped:0 overruns:0 frame:0

          TX packets:268 errors:0 dropped:0 overruns:0 carrier:0

          collisions:0 txqueuelen:1000

          RX bytes:659779 (644.3 KiB)  TX bytes:45866 (44.7 KiB)