A monitoring system for a machine is provided. The machine includes at least one movable member including at least one sensor configured to generate at least one speed measurement of the moveable member. The machine also includes at least one processor coupled in electronic data communication to the sensor. The sensor is configured to generate at least one time stamp value for the at least one speed measurement signal. The at least one processor is configured to generate a plurality of time-stamped speed measurement signals of the at least one moveable member. The processor is further configured to determine a prioritization of the plurality of time-stamped speed measurement signals as a function of at least one predetermined temporal value.