A system and method is disclosed that allows for the monitoring, analyzing and reporting on performance, availability and quality of optical network paths. The correlation of PM parameter metrics to client connections, coupled with threshold-based alarm generation provides a proactive and predictive management, reporting and analyzing of the health and effectiveness of individual path connections to alert Operational Support (OS) staff and/or customers to signal degradation and impending Network Element (NE) failures. The system and method performs in real-time processing intervals required for alarm surveillance in a telecommunications network.