A power management system suitable for dynamically allocating power provided by a selected power source among one or more associated loads and methods for manufacturing and using same. In a normal operation mode, the power source provides power to one or more enabled loads. The selection of loads that are enabled, and therefore the provided power, can dynamically vary over time. If an undesired power condition arises, a power limiting mode is entered, wherein at least one of the enabled loads is disabled. The resultant power provided by the power source to the remaining enabled loads is measured, and the power limit mode is maintained until the undesired power condition is resolved. As needed, further corrective action, such as disabling additional enabled loads, can be applied to resolve the undesired power condition. The power management system thereby can comprise a hierarchical system for dynamically resolving undesired power conditions.