1. A method of providing notification of network alarms using a plurality of distributed layers, the method comprising the computer-implemented steps of: receiving a message that indicates an event occurred at a primary entity in a network; in an event binding layer that is hosted in a first process, binding the event to a managed object of an inventory, wherein the managed object represents the primary entity, to create a bound event; in a condition determination layer that is hosted in a second process different than the first process, determining a condition of the primary entity based on the bound event to create one or more condition notifications; in an impact analysis layer that is hosted in a third process different than the first and second processes, analyzing the impact of a particular condition notification on one or more entities that are related to the primary entity to create one or more impact notifications; wherein the one or more entities that are related to the primary entity include one or more child entities of the primary entity; wherein each of the one or more impact notifications comprises information that notifies an event impact subscriber of an impact of the event on the related entities; applying the one or more impact notifications to change state of one or more other managed objects in the inventory that represent the related entities; in a notification layer that is hosted in a fourth process different than the first, second and third processes, creating one or more first alarms that indicate the one or more related entities are impacted by a particular impact notification; and in a heuristics layer that is hosted in a fifth process different than the first second, third and fourth processes, receiving two or more first alarms created at the notification layer and creating, based on rules for determining that alarms resulting from events are related, one or more annotated alarms comprising an indication that at least one of the two or more first alarms is related to at least one other of the two or more first alarms; wherein the method is implemented by one or more computing devices.