A while ago I was working on a monitoring project. A major part of the project was to focus on the ability to relate individual component failure to the impact on the business. Different levels of success were defined and monitoring objects are plotted to these different levels.
Now the ICT-Architect published a paper on the subject (in Dutch). The article is available here: http://intelligence.agconnect.nl/content/een-nieuwe-kijk-op-ketenmonitoring.