Service metrics for managing services transported over circuit-oriented and connectionless networks

Described are a system and method for managing a service transported over a transport network between first and second service termination points. Packet traffic associated with the service is received at a service termination point connected to the transport network. Performance of the packet traffic is measured at the service termination point. The measured performance of the packet traffic and the service are correlated to produce a performance of service (PoS) service metric. Based on the PoS service metric, other service metrics associated with the service are correlated, including a rate of service (RoS) service metric and availability of service (AoS) service metric. These service metrics can be used to develop service level agreement (SLA) and service level metrics that define the operation of the service and operation of the network supporting those services.