Hi I have a requirement like we are creating a zone in which we are installing oracle and in the global zone we are installing our project related software..
Now my question is how to manage the solaris zone from any faults happen??
like it may be Memory,Network etc............

I want to know is there any trouble shooting steps for handling such kinds of error?? or can i raise alarm in that case...

pls help me ..........

h/w faults.. no way, you only have to give in. Zones are virtually on top of the global zone, without your global zone, you CAN'T have your local zones running. Downtime..

That's not a good practice. The global zone shouldn't host that kind of stuff. Just create a second zone for them, unless they really require global zone privileges.
Not that much different from non zoned OS disaster recovery. Use a clustering software or manual failover to handle service disruptions. Have your data on redundant shared storage devices. Do backups often. Spread the backups on different geographical locations, and so on. Tests your procedures.