1. A method, in a data processing system, for handling incidents occurring in a managed environment, the method comprising: detecting, by a processor, an incident in a resource in the managed environment; identifying, by the processor, a set of incident handling actions based on incident handling rules for an incident type of the incident; from the set of incident handling actions, identifying, by the processor, one incident handling action to be executed based on a set of impact indicators associated with the set of incident handling rules, the set of impact indicators indicating an impact to one or more other resources within the managed environment and the one or more other resources being one or more of hardware, virtualization software, virtual machines, operating systems, middleware, or applications, wherein a value of an impact indicator in the set of impact indicators increases as either the number of tenants effected by the incident handling action with which the impact indicator is associated increases or the number of other applications effected by the incident handling action with which the impact indicator is associated increases; and executing, by the processor, the identified incident handling action to address the failure of the resource.