The objectives of this book are twofold: to provide insight and understanding of two-phase flow phenomena and to develop analytical tools for either designing two-phase flow systems or conducting research in this area. The traditional approach for two-phase flow prediction has been the empirical approach, which was based on the development of an empirical correlation from experimental data. This book presents the recent approach, in which mathematical mechanistic models are developed, based on the physical phenomena, for the prediction of two-phase flow behavior. The models can be verified and refined with limited experimental data. However, as these models incorporate the physical phenomena and the important flow variables, they can be extended to different operational conditions and can enable scaleup with significant confidence