Policy-base Management is a new feature in SQL Server 2008 that helps SQL Server administration. It allows us to define and enforce policies for configuring and managing SQL Server across the enterprise. The policy-based framework implements the policies behind the scene with a Policy Engine, SQL Server Agent jobs, SQLCLR, DDL triggers and Service Broker. Policies can be applied or evaluated against a single server or a group of servers.

To understand PBM we have to understand the below terms.
Target – an entity that is managed by PBM (i.e. database, table, index, etc.)
Facet – a predefined set of properties that can be managed
Condition – a property expression that evaluates to facets on target and returns True or False;
Policy – a condition to be checked and/or enforced

Expand the Management Node to use the PBM.

Expand the facets node to checkout the facets.

To Check out facets properties double click on facets. I have clicked on Login Facets. These facet properties are used to specify a condition