Abstract: A framework for adaptively managing the life of components. A sensor provides non-destructive test data obtained from inspecting a component. The inspection data may be filtered using reference signatures and by subtracting a baseline. The filtered inspection data and other inspection data for the component is analyzed to locate flaws and estimate the current condition of the component. The current condition may then be used to predict the component's condition at a future time or to predict a future time at which the component's condition will have deteriorated to a certain level. A current condition may be input to a precomputed database to look up the future condition or time. The future condition or time is described by a probability distribution which may be used to assess the risk of component failure. The assessed risk may be used to determine whether the part should continue in service, be replaced or repaired.