A method for managing power consumption in a device operating in a communication network includes, while the device is operating in a first power management mode, simultaneously monitoring for an expiration of a first period of time during which no message traffic is observed at all on a communication channel of the communication network and an expiration of a second period of time during which no message traffic destined for the device is received by the device via the communication channel of the communication network. Responsive to the expiration of the first period of time or the expiration of the second period of time, whichever comes first, operation of the device in a second power management mode is initiated, where the second power management mode is different from the first power management mode.