This dissertation addresses the concepts of Life Cycle Costing (LCC) and Total Cost of Ownership (TCO) and implements them through a condition monitoring system for key components in mechanical engineering, specifically profile rail guides and ball screw drives. This book is aimed at interested engineers and scientists in the fields of machine elements, general mechanical engineering, automation technology, machine tool construction, and operators of machines and systems. The content of this work is based on the author's many years of research in collaboration with leading German industrial companies in the rolling bearing, linear, ball screw drive, and machine tool sectors. The extensive investigations presented were conducted both on test benches and on modern CNC machine tools in the machine tool industry.