Failure impact analysis (or “impact analysis”) is a process that involves identifying effects of a network event that are may or will results from the network event. In one example, this disclosure describes a method that includes generating, by a control system managing a resource group, a resource graph that models resource and event dependencies between a plurality of resources within the resource group; detecting, by the control system, a first event affecting a first resource of the plurality of resources, wherein the first event is a network event; and identifying, by the control system and based on the dependencies modeled by the resource graph, a second resource that is expected to be affected by the first event.