Method for carrying out by a storage management device, checkpointing a copy-on-write operation sequence and recovering from a storage transaction failure, the method comprising: (a) receiving a first write request identifying payload data to be written beginning at a first address of a first data store; (b) reading original data associated with the first address of the first data store; (c) copying the original data to a second data store beginning at a second address; (d) recording transactional information associated with the first write request, the transactional information including indicia associated with the second address; (e) generating a first checkpoint confirming the successful recordation of the transactional information and the successful copying of the original data to the second data store; (f) writing the payload data to the first data store beginning at the first address; (g) in response to successfully writing the payload data to the first data store acknowledging a successful completion of the copy-on-write operation sequence; and (h) generating a second checkpoint confirming the successful completion of the copy-on-write operation sequence; wherein in response to a transaction failure that disables a primary processor module, a standby processor module assumes the tasks of a primary processor module and the following sequence of steps is carried out by the storage management device: searching a request queue of the standby processor module to identify one or more I/O requests that were queued prior to the failure of the primary processor module; for each of the identified I/O requests, determining whether an associated first checkpoint exists; wherein if the associated first checkpoint is not located, then queueing a complete set of the operations associated with the I/O request within one or more operation queues of the standby processor module for subsequent execution; and if the associated first checkpoint is located, determining whether an associated second checkpoint exists, wherein if the associated second checkpoint is not located, queuing a subset of the operations associated with the I/O request within one or more of the operation queues of the standby processor module for subsequent execution, and if the associated second checkpoint is located, removing the operations associated with such I/O request from the operation queues of the standby processor module. (a) receiving a first write request identifying payload data to be written beginning at a first address of a first data store; (b) reading original data associated with the first address of the first data store; (c) copying the original data to a second data store beginning at a second address; (d) recording transactional information associated with the first write request, the transactional information including indicia associated with the second address; (e) generating a first checkpoint confirming the successful recordation of the transactional information and the successful copying of the original data to the second data store; (f) writing the payload data to the first data store beginning at the first address; (g) in response to successfully writing the payload data to the first data store acknowledging a successful completion of the copy-on-write operation sequence; and (h) generating a second checkpoint confirming the successful completion of the copy-on-write operation sequence; wherein in response to a transaction failure that disables a primary processor module, a standby processor module assumes the tasks of a primary processor module and the following sequence of steps is carried out by the storage management device: searching a request queue of the standby processor module to identify one or more I/O requests that were queued prior to the failure of the primary processor module; for each of the identified I/O requests, determining whether an associated first checkpoint exists; wherein if the associated first checkpoint is not located, then queueing a complete set of the operations associated with the I/O request within one or more operation queues of the standby processor module for subsequent execution; and if the associated first checkpoint is located, determining whether an associated second checkpoint exists, wherein if the associated second checkpoint is not located, queuing a subset of the operations associated with the I/O request within one or more of the operation queues of the standby processor module for subsequent execution, and if the associated second checkpoint is located, removing the operations associated with such I/O request from the operation queues of the standby processor module. searching a request queue of the standby processor module to identify one or more I/O requests that were queued prior to the failure of the primary processor module; for each of the identified I/O requests, determining whether an associated first checkpoint exists; wherein if the associated first checkpoint is not located, then queueing a complete set of the operations associated with the I/O request within one or more operation queues of the standby processor module for subsequent execution; and if the associated first checkpoint is located, determining whether an associated second checkpoint exists, wherein if the associated second checkpoint is not located, queuing a subset of the operations associated with the I/O request within one or more of the operation queues of the standby processor module for subsequent execution, and if the associated second checkpoint is located, removing the operations associated with such I/O request from the operation queues of the standby processor module.