This chapter describes the two types of Time-Temperature-Transformation (TTT) diagrams used and outlines the methods of determining them. As a precursor to the examination of the decomposition of austenite, it first reviews the phases and microconstituents found in steels. This includes a presentation of the iron-carbon phase diagram and the equilibrium phases. The chapter also covers the common microconstituents that form in steels, including the nomenclature used to describe them. The chapter provides a comparison of isothermal and continuous cooling TTT diagrams. These diagrams are affected by the carbon and alloy content and by the prior austenite grain size, and the way in which these factors affect them is examined.