Condition monitoring (CM) is the process of monitoring machine condition with respect to its parameters (vibrations, temperatures, oil quality, etc.). Condition monitoring helps detect major changes to measured values, which are indicative of developing breakdowns.
When talking of condition monitoring, we talk of collection of data from sensors intended for CM machines, monitoring of measured values developments, and possibly alarm settings for measured values. Every CM system is usually autonomous (e.g. a vibration monitoring system isn't interconnected with a lubrication system and lubricant condition monitoring system, etc.).