A computer implemented method may be used for analyzing equipment failures and maintenance schedules. An equipment maintenance system generates a model of equipment and components of each piece of equipment. In one embodiment, the model is a tree representation. The equipment maintenance system may then determine estimated failure information for each component based on a selected statistical model. The equipment maintenance system may also generate a maintenance schedule based on the determined estimated failure information for each component of the equipment. In one embodiment, the equipment maintenance system displays the equipment maintenance information.