Techniques for controlling collection of diagnostic data in a monitored system. A set of flood control rules are configured for the monitored system for controlling the gathering of diagnostic data in the monitored system. The set of flood control rules may include one or more default flood control rules. The set of flood control rules are user-configurable enabling the user of the monitored system to set policies for dynamically controlling gathering of diagnostic data for the monitored system. In one embodiment, diagnostic data gathering is controlled based upon a number of previous occurrences of a condition in some predefined or user-configured time frame that triggers diagnostic data gathering and/or a number of previous executions of an action performed in some predefined or user-configured time frame responsive to the condition in the monitored system.