Among other things, one or more techniques and/or systems are provided for assessing power system equipment of a power system. Historical sensor data and/or historical field test data collected from the power system equipment may be utilized to develop a health profile of the power system equipment. The health profile is indicative of a predicted health (e.g., or probability of failure) of the power system equipment. In one embodiment, the health profile further comprises a health index score which evaluates that health of the power system equipment in terms of the importance of the power system equipment to the power system. Using the health profiles developed for a plurality of power system equipment, a maintenance strategy for at least a portion of the power system may be developed.
