1. A method for managing alarms arising on a plurality of objects in telecommunications equipment, said method comprising: establishing a list of networked alarm relations among said plurality of objects, wherein said list of networked alarm relations specifies both correlated alarms and correlating alarms among said plurality of objects; establishing a list of correlating alarms; establishing a list of correlated alarms among child objects of parent objects in the list of correlating alarms, wherein a name of each correlated alarm comprises a name of a respective parent object; 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 either said list of correlating alarms or said list of correlated alarms.