The PHM Society is a global organization dedicated to advancing the field of Prognostics and Health Management (PHM). They focus on promoting the development and application of PHM technologies through conferences, publications, and educational resources. The society generates revenue through membership fees, conference registrations, sponsorships, and the sale of technical publications. Founded in 2009, the PHM Society has become a key player in fostering collaboration among industry professionals, academics, and government agencies to improve system reliability and safety.