A system for monitoring a gas turbine includes a memory containing information from comparable gas turbines and an input device that generates a unit data signal and a risk signal. A processor in communication with the memory and the input device incorporates the unit data signal into the database, projects information for the gas turbine, and calculates a conditional risk that the gas turbine will reach a limit. An output signal includes repair or maintenance schedules. A method for monitoring a gas turbine includes receiving information from comparable gas turbines, adding information from the gas turbine to the information from comparable gas turbines, and projecting information for the gas turbine. The method further includes calculating a conditional risk that the gas turbine will reach a limit and generating an output signal containing repair or maintenance schedules.