The Daemon Manager itself tries to maintain daemon health. It can detect if a daemon dies, and it will try to restart it.
However, if you want to monitor health on your own, the pdshow command is the way to do it. Most daemons should always be running. In LMS 3.2, you may have a few which can be down in a healthy system:
DFMCTMStartup
DataPurge
CSDiscovery
UTMajorAcquisition
CWAPublisher
DCRDevicePoll
FDRewinder (Solaris only)
(any numbered process like 1001)
Any other daemon should be running.
RME also has the ability to notify you if a job fails. Go to RME > Admin > System Preferences > Collection Failure Notification, and enable notifications when the desired collection fails.