Monitoring of biodiversity is expensive and can detract resources for managing biodiversity. Given limited resources for conservation, it is not only important to assess the choices we make for managing biodiversity but also those for monitoring biodiversity. This entails considering the benefits and costs of alternative monitoring strategies, and selecting the ones that best inform and improve management decisions. However, understanding which aspects of an ecosystem to monitor (e.g. which species, threat, or indicator) to make effective management decisions is a challenging task. This is especially true when we are faced with large uncertainties, such as those regarding the drivers of change when species are impacted by multiple threats. Although optimal monitoring approaches for conservation decision-making under limited resources have gained popularity over the last decade, similar approaches for monitoring and indicator selection to inform the management of multiple threats for biodiversity have received relatively little attention. In this thesis, I contribute to the theory and tools for selecting monitoring strategies and indicators to improve management decisions, with a focus on multi-species, multi-threat systems. The four objectives of my thesis are: (1) to review current approaches for selecting indicator species for biodiversity management; (2) to assess the value of monitoring species for managing multiple threats; (3) to assess the relative influence of uncertainty and expected benefits of management on monitoring decisions for multiple threats; and (4) to develop a simple indicator selection tool based on a return on investment framework for managing multi-species, multi-threat systems.The thesis starts with a systematic review of the conservation literature, in chapter two, to assess the extent to which the selection of indicator species for biodiversity management explicitly considers management objectives and the management outcomes of monitoring. I find that most indicator selection studies focus on improving the monitoring efficiency rather than the management effectiveness, potentially leading to ineffective indicators. Recommendations are provided to improve indicator selection for management decision-making. I also propose a decision framework for selecting indicator species and identify decision-analytic approaches to evaluate alternative monitoring choices that are further developed in the remainder of the thesis.In chapter three, I use value of information analysis to investigate how monitoring alternative species subject to multiple threats improves our ability to inform the management of these threats.iii Specifically, I compare the effectiveness of different monitoring approaches to learn about the threats i.e. monitoring just species and monitoring with experimental manipulation of threats. My results show that monitoring species alone is unlikely to provide useful information for threat management when there is uncertainty about the effect of multiple threats. Instead, an ...