1. A method for the automated implementation of a hierarchical event relationship network for correlation analysis in a distributed computing environment, comprising the acts of: inputting event handling information for each event type to be monitored; customizing a plurality of rule templates for each event type within an event source; verifying that the plurality of event relationship network rules do not violate an event protocol; generating a hierarchical class definition structure and naming structure from the plurality of event relationship network rules for each event source; and generating a plurality of event management rules for each event type automatically from the event relationship network rules and the rule templates.