This International Standard provides an introduction on how to apply performance monitoring and diagnostics for machines, groups of machines, up to complete industrial installation (equipment) typically covering the whole lifetime of the machines. This International Standard is intended to — introduce the terminology specifically related to performance monitoring and diagnostics of machines, — describe the types of performance monitoring and diagnostics procedures and their merits, — provide guidance on installation of performance monitoring and diagnostics systems, — outline methods and requirements for carrying out performance monitoring and diagnostics of machines, and — provide information on data interpretation, and assessment criteria and reporting requirements. This International Standard includes testing procedures for determining the accuracy of performance monitoring and diagnostics systems and procedures (including providing inputs for benchmarking the performance of equipment).