A work vehicle includes an engine; at least one continuously variable power source (CVP) configured to operate according to a commanded torque; an output shaft; a transmission positioned operatively between the output shaft and the engine and the CVP such that the output shaft selectively receives power from one or both of the engine and the at least one CVP; and a prognostics system configured to monitor a respective component associated with at least one of the output shaft or the transmission. The prognostics system includes a prognostics controller having a processor and memory architecture, configured to: receive input data, including the commanded torque; generate a usage value for the respective component for a time period as a function of the commanded torque; aggregate the usage value with previous usage values to generate a prognostics value over a life of the respective component; and store the prognostics value.