1. A computer program product comprising a computer readable storage medium having a computer readable program stored therein, wherein the computer readable program, when executed on a computing device, causes the computing device to: detect an incident in a resource in the managed environment; identify a set of incident handling actions based on incident handling rules for an incident type of the incident; from the set of incident handling actions, identify one incident handling action to be executed based on a set of impact indicators associated with the set of incident handling rules, the set of impact indicators indicating an impact to one or more other resources within the managed environment and the one or more other resources being one or more of hardware, virtualization software, virtual machines, operating systems, middleware, or applications, wherein a value of an impact indicator in the set of impact indicators increases as either the number of tenants effected by the incident handling action with which the impact indicator is associated increases or the number of other applications effected by the incident handling action with which the impact indicator is associated increases; and execute the identified incident handling action to address the failure of the resource.