Although the benefits of requirements traceability are widely recognized, the actual practice of maintaining a traceability scheme is not always entirely successful. The traceability infrastructure underlying a software system tends to erode over its lifetime, as time-pressured practitioners fail to consistently maintain links and update impacted artifacts each time a change occurs, even with the support of automated systems. This paper proposes a new method of traceability based upon event-notification and is applicable even in a heterogeneous and globally distributed development environment. Traceable artifacts are no longer tightly coupled but are linked through an event service, which creates an environment in which change is handled more efficiently, and artifacts and their related links are maintained in a restorable state. The method also supports enhanced project management for the process of updating and maintaining the system artifacts.