A method and an apparatus provide intelligent monitoring and maintenance of a system. The method according to one embodiment accesses data relating to functional components of the system; extracts parameter information for functional components of the system, the step of extracting parameter information including performing inferential processing and trend recognition of the data using previous knowledge about the system, and simulating performance of the system using models of the system and previous knowledge about the system; identifies new information about the system present in extracted parameter information; and provides the new information to the step of extracting parameter information, to be used as previous knowledge.