The IS availability is an essential requirement that business presents to its IT departments. Ibrahimovic (2016) concluded that, with a very low investment in “monitoring of the relevant components”, it is possible to achieve a significant improvement in IS availability. This chapter starts with a brief introduction of the IS availability. Authors provide a short definition of BBN modeling and address different aspects of IS monitoring, particularly: network monitoring, server monitoring, application, security and business process monitoring. As main artifact of this chapter authors proposed the monitoring. Since the framework emphases importance of governance and management layer, chapter contains overview of COBIT 5 and ITIL V3 from the IS monitoring aspect. In the final part of the chapter, authors address the challenges that a monitoring tool needs to address in modern information systems, especially but not limited to DevOps, Cloud and Hybrid IT architectures.