The thermal and mechanical properties of Thermal Barrier Coating systems (TBCs) are strongly influenced by coating defects, such as delaminations and pores, thus making it essential to have a fundamental understanding of microstructure-property relationships in TBCs, to produce a desired coating. Object-Oriented Finite element analysis (OOF) has been shown previously as an effective tool for evaluating thermal and mechanical material behaviour, as this method is capable of incorporating the inherent material microstructure as an input to the model. In this work, OOF was used to predict the thermal conductivity and effective Young’s modulus of TBC topcoats. A Design of Experiments (DoE) was conducted by varying selected spray parameters for spraying Yttria Partially Stabilized Zirconia (YPSZ) topcoat. Characterisation of the coatings included microstructure, porosity and crack content and thermal conductivity measurements. The relationships between microstructural features, thermal conductivity and Young’s modulus are discussed.