Full definition
Estimate of the remaining operational service life of a component based on current condition, history and degradation models. Methods: P-F curves (from detectable point to functional failure), Weibull models, vibration or wear monitoring. Enables informed repair vs. replace decision before failure. Applications: bearings (vibration), gearboxes (oil analysis), structures (ultrasound), piping (thickness measurement). Reduces costs by avoiding premature replacements or catastrophic failures.