Performance management of computer networks is intended to improve a given network performance in order for more efficient information exchange between subsystems of an integrated large-scale system. Improtance of performance management is growing as many function of the large- scale system depend on the quality of communication services provided by the network. The role of performance management is to manipulate the adjustable protocol parameters on line so that the network can adapt itself to a dynamic environment. This can be divided into two subtasks : performance evaluation to find how changes in protocol parameters affect the network performance and decision making to detemine the magnitude and direction of parameter adjustment. This paper is the second part of the two papers focusing on conceptual design, development, and evaluation of performance management for token bus networks. This paper specifically deals with the task of decision making which utilizes the principles of stochastic optimization and learning automata. The developed algorithm can adjuxt four timer settings of a token bus protocol based on the result of performance evaluation. The overall performance management has been evaluated for its efficacy on a network testbed.