23. A computer-based method for use in managing a service level associated with resources in a distributed information technology (IT) system based on financial terms, the method comprising the steps of: automatically constructing and maintaining, via a processor of a computer, an electronic contract that contains information pertaining to descriptions of one or more business transactions in IT terms, financial implications of one or more business transaction service levels, and reporting to be performed in one or more financial terms; automatically measuring, via the processor of the computer, the operation of at least one distributed element of the IT system in terms of one or more business metrics based on the electronic contract and based at least in part on input received from at least one agent nodule located in the at least one distributed element; automatically determining, via the processor of the computer, at least one financial optimization based at least part on the measured one or more business metrics of the at least one distributed element of the IT system and based at least in part on the electronic contract, the financial optimization being specified in the electronic contract at the time of construction such that, at the time the financial optimization is to be determined, the electronic contract is accessed to identify a particular financial metric of the financial optimization that is to be computed and to identify an operation for computing the particular financial metric, the one or more business metrics are converted to one or more financial equivalents wherein the one or more financial equivalents comprise a cost of a lost connection, a cost of down time, and a relationship between revenue and network latency; and automatically issuing, via the processor of the computer, at least one control command based on the at least one financial optimization, the command to be executed on the at least one distributed element by the at least one agent module located in the at least one distributed element.
23. A computer-based method for use in managing a service level associated with resources in a distributed information technology (IT) system based on financial terms, the method comprising the steps of: automatically constructing and maintaining, via a processor of a computer, an electronic contract that contains information pertaining to descriptions of one or more business transactions in IT terms, financial implications of one or more business transaction service levels, and reporting to be performed in one or more financial terms; automatically measuring, via the processor of the computer, the operation of at least one distributed element of the IT system in terms of one or more business metrics based on the electronic contract and based at least in part on input received from at least one agent nodule located in the at least one distributed element; automatically determining, via the processor of the computer, at least one financial optimization based at least part on the measured one or more business metrics of the at least one distributed element of the IT system and based at least in part on the electronic contract, the financial optimization being specified in the electronic contract at the time of construction such that, at the time the financial optimization is to be determined, the electronic contract is accessed to identify a particular financial metric of the financial optimization that is to be computed and to identify an operation for computing the particular financial metric, the one or more business metrics are converted to one or more financial equivalents wherein the one or more financial equivalents comprise a cost of a lost connection, a cost of down time, and a relationship between revenue and network latency; and automatically issuing, via the processor of the computer, at least one control command based on the at least one financial optimization, the command to be executed on the at least one distributed element by the at least one agent module located in the at least one distributed element. 25. The method of claim 23 , wherein the measuring step comprises accumulating a historical collection of IT data and evaluating results in terms of the one or more business metrics.