A system for determining a remaining useful life of a cooling component operatively connected to a prime mover. A controller performs a thermal strain analysis that includes determining the power output of the prime mover based upon sensor signals, determining a temperature output of the prime mover based upon the power output, determining a temperature at each of the plurality of analysis locations based upon the temperature output, determining a temperature difference based upon the temperature at each respective one of the plurality of analysis locations, and determining a thermal strain based upon the temperature difference. The controller repeats the thermal strain analysis at time intervals over a period of time, determines an accumulated damage for the cooling component based upon the thermal strain from each thermal strain analysis, and determines a remaining useful life of the cooling component based upon the material characteristics and the accumulated damage.