Can you post the document you have, or a link? I'm not sure I've seen that document.
Regarding what to monitor, I would install the monitor pack created by Joseph Carlson at Symantec which monitors availability by ping, bandwidth, logs, disk space, and services. You could also monitor your SQL server and your package servers for similar statuses (services running, disk space available, responds to ping):
https://www-secure.symantec.com/connect/downloads/altiris-server-7-monitor-pack
As an administrator, reviewing the Altiris Log Viewer for errors is something you should do each day. Personally I find it easier as a once a day task rather than counting on e-mails (which would do nothing except tell me I need to go look at the Altiris Log Viewer anyway).