Aspects of the subject technology relate to systems and methods for monitoring component wear to prevent premature component failure. A control system for a system having one or more mechanical or electronic components may include a life manager that monitors accumulated wear of the one or more components. The life manager may provide an alert and/or limit system operations when the accumulated wear exceeds a limit. The limit may be dynamically determined based on an operating age of the component. The limit may also be defined as a matrix of limits, each defined for a range of a particular operating condition of the component. Operating conditions may include an applied torque range for a vehicle wheel or a thermal cycle temperature range for an electronic switching component.