A method for modeling, validating, and monitoring a service level agreement (SLA) associated with a business process is disclosed herein. Such a method may include providing a library of reusable SLA component types. Functionality may be provided to enable a user to create SLA components from the reusable SLA component types. Functionality may also be provided to enable the user to assemble the SLA components into an SLA model having a hierarchy. In the SLA model, events may be passed between the SLA components to trigger behavior by the SLA components. SLA components at the lowest levels of the hierarchy may be configured to receive events from the business process. The method may further validate the SLA model against the business process to ensure the business process can generate the events required by the SLA components. A corresponding apparatus and computer program product are also disclosed herein.