Seismometer arrays have been widely applied to record collapse by controlled explosion in mines and caves. However, most underground failures are natural events, and because they can occur abruptly, underground failures represent a serious geological hazard. An accelerometric array installed on 4 September 2008 has been used to manage the geological risk of the Peschiera Springs drainage plant of Rome's aqueduct, which is located in the Central Apennines approximately 80 km from Rome, Italy. The plant occupies a karstified carbonatic slope that is extensively involved in gravitational deformations, which are responsible for underground failures such as cracks and collapses. To distinguish among different types of recorded events, an automated procedure was implemented based on the duration, peak of ground acceleration (PGA) and PGA variation in the recordings of the plant's accelerometric stations. The frequencies of earthquakes and micro-earthquakes due to underground failures are, in general, well correlated. Nevertheless, many underground failure sequences can be directly associated with the continuous deformations that affect the slope. The cumulative Arias intensity trend derived for the underground failures combined with the failure and earthquake frequencies enabled the definition of a control index (CI) that identifies alarming or emergency conditions. The CI can be used as a tool for managing the geological risk associated with the deformational processes that affect the drainage plant.