Abstract: A method and system for determining asset reliability is provided. The method includes receiving a request to evaluate a component from a requester. The component includes at least a portion of the asset that is operated by the requester. The method also includes acquiring current and historical component-specific data for the component and identifying factors from the current and historical component-specific data. The factors reflect events, the occurrence of which are known to have an effect on asset health. The method further includes determining a component-specific value for the component by applying the factors to a fleet-wide value assigned to a component class to which the component belongs. The method also includes presenting the component-specific value to the requester. The component-specific value is indicative of a potential event with respect to the component.