Network management involves monitoring, configuring, and troubleshooting network components to meet organizational requirements. It has five main functions: configuration management, fault management, performance management, security management, and accounting management. Configuration management deals with the status of network entities and their relationships, and includes reconfiguration and documentation of hardware, software, and user accounts. Fault management handles the detection, isolation, correction, and recording of network faults through either reactive or proactive approaches. Performance management monitors network capacity, traffic, throughput, and response time to ensure efficient operation. Security and accounting management control user access and resource usage according to defined policies.