1. A computer implemented method for managing application migration in a networked computing environment, the method comprising the steps of: generating a list of relationships and dependencies, via a computer implemented deductive logic method, associated with a first networked computing service and one or more current computer software applications utilized by the first networked computing service that is within a local cloud service provider infrastructure, wherein the list includes upstream and downstream network data connections of the first networked computing service; storing the list on an electronic storage device; determining an availability of one or more replacement computer software applications for the one or more current computer software applications that are utilized by the first networked computing service, wherein the one or more replacement computer software applications having at least the functionality as the one or more computer software applications; determining an impact on service levels and performance of the first networked computing service that would result from at least one of an inter-cloud migration of the one or more current computer software applications to a remote cloud service provider infrastructure and an intra-cloud migration of the one or more current computer software applications within the local cloud service provider infrastructure, wherein the one or more current computer software applications migrate from the first networked computing service to a second networked computing service, based upon the list and the availability of the one or more replacement computer software applications; migrating the one or more current computer software applications from the first networked computing service to the second networked computing service; and receiving at least the functionality from the one or more replacement software applications, wherein the migration of the one or more current computer software applications is reversible if an actual impact of the migration is greater than the determined impact.