A system includes a plurality of modules, a backplane communicatively coupled to the plurality of modules, a plurality of links defined between the plurality of modules over the backplane, and a link management system configured to dynamically manage parameters associated with each of the plurality of links. A link management method includes, for a system, defining a codebook for each module, device, and interconnect in the system, the codebook includes data describing physical link topologies and configuration parameters associated therewith, for initializing a link in the system, obtaining appropriate codebooks for each segment in the link, calculating an overall link loss for the link based on data in the appropriate codebooks, and obtaining configuration parameters for the link based on the overall link loss.