1. A method for managing alarms arising on a plurality of objects in telecommunications equipment, said method comprising the steps of: establishing a list of networked alarm relations among said plurality of objects, wherein said list specifies correlated alarms and correlating alarms associations between said objects; establishing a list of correlating alarms; establishing a list of correlated alarms; and and upon a new alarm being raised on an object of said plurality of objects; traversing said list of networked alarm relations in conjunction with said list of correlating alarms and said list of correlated alarms; and assigning said new alarm to one of either said list of correlating alarms or said list of correlated alarms.