1. In a storage area network, a method for identifying the impact of event occurrences comprising: identifying a configuration of managed entities of interest in the storage area network, identifying the configuration further comprising: determining, based on a set of business processes, business operations dependent on particular manageable entities; and designating the determined manageable entities as manageable entities of interest; determining relations between the managed entities of interest and other managed entities in the storage area network, the relations indicative of an event at a managed entity having an affect on another managed entity, wherein determining the relations further comprises parsing the manageable entities to identify managed entities of interest, the managed entities of interest including managed entities effected directly or indirectly by an event at another managed entity; caching recently accessed relations to provide a cache of effected managed entities; registering for notification of events affecting, based on the determined relations, the designated manageable entities; receiving an indication of an event affecting a registered manageable entity; and determining, via the determined relations, other manageable entities affected by the received event, the determining comprising traversing the cache of effected managed entities and selectively invoking a relation service operable to identify other managed entities effected by a particular managed entity according to the relations if no match is found in the cache.