A system is disclosed. The system includes a processing subsystem that receives component data signals corresponding to a plurality of parameters of a device, wherein the processing subsystem generates one or more sets of state category component data by allocating the component data signals into respective one or more sets of state category component data, determines a plurality of first dynamic thresholds and a plurality of second dynamic thresholds corresponding to at least one of the one or more sets of state category component data based upon a respective set of state category component data in the one or more sets of state category component data and a respective parameter in the plurality of parameters, and determines an impending trip of the device utilizing the plurality of first dynamic thresholds and the plurality of second dynamic thresholds.