Question

discuss the common types of networks with the required standards for management to make an informed decision

pls this question is banking and finance question

Answer 1

Network management is a multifaceted control that needs a cohesive attempt to provision, protected, optimize and maintain efficient enterprise operations. This begins with getting everything the factors that constitute a comprehensive IT management strategy.

Network management:
It’s a way of managing a business’s wired and wireless network infrastructure. The International Organization for Standardization (ISO) defines 5 major components that IT organizations require to address in the network management strategy. These operational services are accounting management, fault management, configuration management, security management, and performance management.
Any network management sub discipline combines various operational elements. Here is a review of the various types of network management.

1. Fault management
In various ways, is the various fundamental area of the ISO network management guide because it addresses the power to sustain operations of the entire infrastructure? Fault management utilizes a combination of technology and procedure to repair, detect, and document faults that could interfere with network operations.
Simple Network Management Protocol (SNMP) services are generally used to identify difficulties and warn the suitable IT manager. These tools also report and record problems that IT managers can analyze for trends, which can yield valuable insights into longer-term problems that can be addressed to increase performance.

2. Configuration management
It includes more extra than just the primary setup of routers, firewalls, switches, servers, or other parts of network devices. It also includes the continuous tracking of any alterations to the configuration of the system. Because configuration problems are one of the important purposes of interruptions, organizations require having adequate devices and most reliable practices to address every appearance of configuration management.
An important component of this is monitoring and reporting any configuration modifications that occur including network software and hardware. For example, documenting when a fresh network interface is installed or an OS is stimulated. Although network managers can record these differences manually, manual monitoring can be a cumbersome and ineffective utilization of resources. Multiple opt to apply configuration management software.

3. Accounting management
In accounting management, we document all network utilization details. Essentially for bookkeeping ideas, accounting management will charge back or follow branches or lines of business for usage. For smaller businesses that don’t have many branches, the chargeback is unnecessary. However, every business and administration entity requires tracking utilization.
This information is necessary for price management. It can also be essential to identify trends that indicate incapability that might be caused by a configuration problem or some other fault. For larger businesses, documenting which units and users are consuming bandwidths is essential to sustain the significance of the network to business operations. IT is typically viewed as a cost center, so this kind of network management is essential, particularly since IT is regularly below the aegis of the CFO.

4. Performance management
It aims to assure acceptable service levels in the network to support optimal business services. A huge element of performance management is gathering statistics on network service quality on a continuing and consistent basis. Network monitoring devices cull performance data on a scope of metrics — unless through passive monitoring of network traffic or synthetic tests — and then supply that information into performance monitoring applications. Performance monitoring gathers and analyzes statistics on metrics like link utilization, packet loss rates, and network response times.
This information can be supplied into an SNMP management system, which warns network managers when service levels fall under or best satisfactory thresholds. While alert weakness can be an important problem with network managers sometimes overlooking critical error indicators, strong performance management requires regular and reliable monitoring. Network management systems can support reduce alert fatigue by correlating network performance data from various sources, sometimes associating it with IT data from other characters of the business, such as application performance data.

5. Security management
It is a multilayered control within network management that needs ongoing collection and a summary of essential information. Functions that fall under the security management sunshade cover network authentication, auditing, and authorization. Largest security management services combine foundational abilities, such as network firewall setup, configuration and management, intrusion detection systems, vulnerability management, and unified threat management. Businesses can use these to set and execute strategies.

In recent years, personnel inside and outside the IT organization have come to understand how crucial security is to enterprise operations. A security breach can lead to the loss of data and potentially take down the network. The primary goal of network security management is to ensure that only authorized users and devices can access the network resources to which they have rights. Unauthorized users or devices that are determined to have malware or some other malicious or harmful code are deflected. A roles-based component in security management software can also recognize if users should have access to specific resources based on their job function.