The Situation Event Console will show the situations open in a given monitoring environment, and provide drill downs for details on the situation alert. By default, the Situation Console is provided for the entire enterprise on the product provided Enterprise workspace.
What's nice is you can implicitly filter and optimize the Situation Event Console for your specific requirements, and the types of alerts you need to see. In this example I made a change to the product provided DB2 Messages workspace. I split the top DB2 message window, and then did a click and drag from the tool bar, and dropped the Situation Event Console icon on the DB2 workspace I'm editing. The result is now I have a Situation Event Console filtered for just DB2 alerts. You can do the same thing, for other managed system types, as well. This technique is an easy way to tune out the noise, and target the information you are most interested in when it comes to situation alerts.