By default, cmdaemon, node installer and some other Bright Cluster Manager logs are handled with logrotate. The options for these can be set in:
The logrotate command has several options (man logrotate) to handle unfeasibly large logs.
Options to consider are: compressing older log files, reducing the number of days that are logged, or the size of each log.
This rotates event.log monthly, allows a maximum log size of 1GB, and if the log file doesn't exist, skips the log file without an error message.