This book is the second volume in a set of books dealing with the evolution of technology, IT and organizational approaches and what this means for industrial equipment. The authors address this increasing complexity in two parts, focusing specifically on the field of Prognostics and Health Management (PHM). Having tackled the PHM cycle in the first volume, the purpose of this book is to tackle the other phases of PHM, including the traceability of data, information and knowledge, and the ability to make decisions accordingly. The book concludes with a summary analysis and perspectives regarding this emerging domain, since without traceability, knowledge and decision, any prediction of the health state of a system cannot be exploited.