1. A computer program product, comprising a non-transitory computer usable medium having a computer readable program code embodied therein, which when executed implements a method for rule-based performance of actions on related objects, the method comprising: providing a first graphical user interface (GUI) associated with a first object and having an option for configuring at least one rule associated with the first object, the configuring including inputting one or more characteristics of the at least one rule; receiving via the first GUI a selection of the option for configuring the at least one rule associated with the first object; providing a second GUI associated with the option for configuring the at least one rule associated with the first object in response to the selection of the option for configuring the at least one rule, where the second GUI includes for each of the at least one rule: a name field for entering a name of the rule, a description field for entering a textual description of the rule, a field to update field for entering an identifier of a field of a second object to be updated according to the rule, where the second object is related to the first object, and a field to pass field for selecting a field of the first object such that the value of the field is passed to the second object based on an evaluation of the rule; receiving via the second GUI a configuration of the at least one rule associated with the first object; creating the at least one rule associated with the first object, based on the received configuration; storing the created at least one rule in association with the first object; identifying a first action performed on the first object; identifying the at least one rule stored in association with the first object when the first action is performed on the first object; evaluating the identified at least one rule associated with the first object; and conditionally performing at least one second action associated with the second object related to the first object, based on the evaluation of the at least one rule.