In the example below, separate UPS devices are powering the SCVMM server, Hyper-V Hosts and a storage array. PowerChute is installed on the SCVMM machine and is monitoring all of the UPS devices. There are 4 UPS Setups configured each with a single UPS (#1, #2, #3 and #4). A shutdown command file has been configured for UPS Setup #1 containing UPS #1.

UPS #1 goes on battery.
After the shutdown delay for the On Battery event has elapsed, PowerChute sends a command to turn of UPS #1 and UPS turnoff starts.
A UPS critical event is triggered for the two Hyper-V hosts.
PowerChute starts a maintenance mode task on Hyper-V hosts A and B. This will attempt to migrate VMs from Host A. Any VMs that do not successfully migrate will be placed into a saved state. Powered-on VMs will be placed into a saved state on Host B. Failover Clustering will prevent all Hosts in a cluster from entering maintenance mode so only one of the Hosts will enter maintenance mode
After the Maintenance mode duration has elapsed, PowerChute executes the shutdown command file.
After the shutdown command file duration elapses, PowerChute issues the host shutdown command to Hosts A and B and then starts the OS shutdown sequence.
The operating system on the SCVMM server machine starts shutting down following a 70 second delay.
UPS #1 waits for the greater of Low Battery Duration/Maximum Required Delay (Non-Outlet aware UPS) or the Outlet Group Power Off delay.
UPS #1 turns off after the user-configurable Shutdown Delay time has elapsed or the Outlet Group turns off after the Power Off Delay elapses.
UPS #2 goes on battery.
After the shutdown delay for the On Battery event has elapsed, PowerChute sends a command to turn of UPS #2 and UPS turnoff starts.
A UPS critical event is triggered for Hyper-V Host A
PowerChute starts a maintenance mode task on Hyper-V Host A. VMs will be migrated by SCVMM from Host A to Host B. Any powered-on VMs on Hosts A that cannot be migrated to Host B will be placed into a saved state.
After the Maintenance mode duration has elapsed, PowerChute issues the host shutdown command to Hosts A.
UPS #2 waits for the greater of Low Battery Duration/Maximum Required Delay (Non-Outlet aware UPS) or the Outlet Group Power Off delay.
UPS #2 turns off after the user-configurable Shutdown Delay time has elapsed or the Outlet Group turns off after the Power Off Delay elapses.