1. A method of processing a device alert indicative of an ability of a device to operate properly in performing a designed device functionality for use in a process control system, the method comprising: determining in an asset management system the device alert from information received from one of a plurality of process control field devices; categorizing, in the asset management system, the device alert into one of a plurality of alert categories based on a detected condition in a process control field device, each of the plurality of categories corresponding to a different level of alert severity; communicating the categorized device alert from the asset management system to an event management system in response to detection of the condition in a field device, the event management system processing the device alerts and communicating with a business system; and communicating a notification of the device alert from the event management system to the business system based on execution of a rule by the event management system, the business system monitoring, controlling, or managing the operation of the process control system, wherein the device alert comprises a message generated by software in response to the detected condition, and wherein the asset management system coordinates the interoperation of a plurality of diagnostic, optimization, and process control tools.