Cisco has a feature to do this but they have made it very confusing since they decided to change what they called it and the commands to configure it.
Go look for Service Assurance Agent (SAA) and Service Level Agreements (IP SLAs) monitoring and management
Depending on your IOS level the commands are different.
I suspect this was a marketing thing because in most cases all they did was replace "RTR" with "ip sla monitor" in the commands.
Either way the feature is very nice and since everything can be read via SNMP you can use your favorite monitoring tool to collect and graph the data.
