A monitoring system for use in a process plant having a pump or other device capable of undergoing cavitation, uses a characteristic curve, a model and/or process variables, such as indications of a flow rate within the device or a pressure at the input of the device, to detect or predict the occurrence of cavitation within the device. Upon detecting the occurrence of cavitation, the monitoring system may alert a user to the existence of the cavitation, may suggest possible causes of the cavitation and may suggest possible actions to be taken to alleviate the cavitation.