A system and method for assessing the severity of medication errors associated with intravenous administration is provided. A harm index database includes harm index values for various parameters of medication administration. A medication administration device may access this database and assess the overall harm index for particular errors in order to provide appropriate alerts based on the severity of the error. Further, assessment of the harm index value may be used retrospectively to provide reports of event logs that include an overall harm index value associated with each alert.