Methods and systems for a network storage environment are provided. One method includes retrieving stored performance data associated with a resource used in the networked storage environment, where the stored performance data includes latency data, utilization data and a service time; filtering the stored performance data by removing any observations that are beyond a certain value of the service time; grouping the filtered stored performance into utilization bins and identifying a representative of each utilization bin; generating by the processor a hybrid latency versus utilization curve comprising a first portion that is based on the representative of each utilization bin and a second portion generated using a model based technique and determining by the processor available performance capacity of the resource using the hybrid latency versus utilization curve; where the available performance capacity is based on optimum utilization of the resource and actual utilization of the resource.