A method for dynamically prioritizing event processing in an event dispatching system includes steps of: organizing input/output requests in a plurality of activity sets ordered from most active to least active, wherein a highest priority level is associated with the most active activity set and the lowest priority level is associated with the least active activity set; organizing event descriptors corresponding to the input/output requests into event descriptor sets; creating an event descriptor cache; duplicating the event descriptor of the input/output request found to be most active into the event descriptor cache; monitoring the event descriptor cache more frequently than the event descriptor set; and invoking an event dispatching routine from the event descriptor cache.