Abstract: A method for determining the condition assessment and residual life span of bridge cables based on a parametric statistical model. The method includes random sampling of individual cable wires, mechanically testing the sampled wires, determining the probability of broken and cracked wires and the ultimate strength of cracked wires using fracture toughness and imputing the above data to simulate stress-strain curves for each wire in the cable, applying strain increments until reaching ultimate elongation. Assessing remaining service life of the cable by determining the rate of change of broken wires detected over a time frame, measuring the rate of change of fracture toughness over said time frame, and applying the rates of change to a time-dependent degradation prediction model.