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PP/PS event registration (also called "event matching" or "event pairing") is an essential element in multicomponent data analysis. It aligns the related events in P-wave and C-wave (converted wave, also called "PS-wave") sections. Among other things, this enables the Vp/Vs ratio (also called "Gamma") to be calculated. It can be used for updating the migration velocity field, and under favorable conditions, it can be applied directly in lithology/fluid property estimation. In this paper, we discuss the problems of PP/PS event registration, and describe a new target-based, rock physics-guided, iterative workflow for implementing it. A Gulf of Mexico example using the methodology is presented.