Systems and methods for gas turbine operational impact modeling using statistical and physics-based methodologies are disclosed. According to one embodiment of the disclosure, a method can include receiving, by one or more processors, operational conditions data associated with a hardware component of a gas turbine; based at least in part on the operational variation data, applying, by one or more processors, statistical methods to establish an operational profile of the hardware component; receiving, by one or more processors, operating parameters and operational conditions data associated with the hardware component; based at least in part on the operating parameters and the operational conditions data, applying, by one or more processors, physics-based methods to establish an operational impact factor of the hardware component; and based at least in part on the operational profile and the operational impact factor determining, by one or more processors, a probability of a failure of the hardware component within a time period.