This report aims to summarize the different tasks performed at laboratory level on a simple structure, which can be rotated and submerged in water, in order to design, build and test a Structural Health Monitoring (SHM) system for evaluating the turbine condition and performance during steady and transient conditions. The document starts outlining the condition monitoring approach to be used during the different test campaigns and it describes the corresponding implementation in a real-time cRIO environment. The document continues presenting a summary of the different test campaigns performed to check traditional sensors and new sensors based on fiber-optics technology together with the optimal signal processing tools to assess the structure response. Furthermore, the tasks carried out to develop a controller for vibration reduction are also presented and discussed. And finally, the last section describes the ongoing effort to extend the current methodology towards an actual health monitoring approach based on fatigue studies.