The built-in tools for monitoring Windows Server and Hyper-V Server are not well-suited to providing automated and proactive monitoring capabilities. Microsoft provides a comprehensive package of management and notification tools in the System Center 2012 with Service Pack 1 product suite. Many third-party solutions also exist, and a few of them are free or ad-supported. Many hardware providers also include software that can alert you to any issues with their equipment.
There is no single list to help you determine exactly what you'll need in a monitoring system, but there are some guidelines: