1. An enterprise fault analysis method, wherein at least a portion of the enterprise is represented by a enterprise-specific fault model having a plurality of nodes, comprising: receiving an event notification for a first node in the fault model; performing an up-stream analysis of the fault model beginning at the first node; identifying a second node, the second node having a status value modified during the up-stream analysis to indicate a failed status; performing a down-stream analysis of the fault model beginning at the second node; identifying those nodes in a contiguous path between the second node and the first node in the fault model whose impact values indicate an impacted performance condition in accordance with the down-stream analysis; reporting the second node as a root cause of the received event notification; and reporting at least one of the identified nodes as impacted by the root cause of the received event notification and not as root causes of the received event notification.