Manufacturing shop floor dynamics such as machine performance degradation or breakdown will affect the execution of planned production schedules. An intelligent shop floor is able to react to changes in a positive way. To give the early warning of the system/equipment health conditions and mission execution capability to the supervisory control will improve the productivity and efficiency of the shop floor. This paper presents a new concept called iDiagnosis & Prognosis - an intelligent diagnosis, prognosis, manufacturing system condition and mission execution capability assessment system. It focuses on the investigation of system health condition indicator, generic diagnosis & prognosis information structure and system framework to effectively support dynamic manufacturing management. The system functions, components and the integration issues in the Service Oriented Architecture (SOA) is discussed. The prototype system is introduced and the effectiveness of the proposed framework is evaluated. 2009 IEEE.