PDM - Is it possible to trigger an event/alert at the parent level when a component is revised?

Based on what I've seen at a previous org, I think this should be possible even if I need to use an API or Dispatch. But Hawkridge just said "No" in a way that makes me think they didn' try more than a search in their own FAQ. Frankly I don't buy that. Wondering if anyone has done it, seen it done, or thinks they know if it can be done.