A method for determining a projected remaining lifetime profile for a component of a valve, the method being characterized by: receiving, at an integrated diagnostics module (124, 400), an identification of the component of the valve, wherein the component is capable of experiencing mechanical wear or fatigue, over time, during operation of the valve; receiving, at the integrated diagnostics module (124, 400), an operating parameter corresponding to the component, wherein the mechanical wear or fatigue of the component varies with changes in the operating parameter; receiving, at the integrated diagnostics module (124, 400), previously-recorded performance data of a reference component, where the previously-recorded performance data were collected during operation of the reference component under conditions experienced in a processing plant installation that are compatible with conditions under which the valve is to operate; developing, in a profiler of the integrated diagnostics module (124, 400), the projected lifetime profile for the component based on the previously-recorded performance data and the operating parameter, wherein the projected lifetime profile indicates a projected lifetime of the component as a function of values of the operating parameter; receiving, at the integrated diagnostics module (124, 400), current data of the operating parameter for the component during operation of the valve; analyzing, in a lifetime data analyzer, the current data of the operating parameter for the component and the projected lifetime profile for the component to determine a projected remaining lifetime for the component; and determining an operator notification state of the component based on the determined projected remaining lifetime. receiving, at an integrated diagnostics module (124, 400), an identification of the component of the valve, wherein the component is capable of experiencing mechanical wear or fatigue, over time, during operation of the valve; receiving, at the integrated diagnostics module (124, 400), an operating parameter corresponding to the component, wherein the mechanical wear or fatigue of the component varies with changes in the operating parameter; receiving, at the integrated diagnostics module (124, 400), previously-recorded performance data of a reference component, where the previously-recorded performance data were collected during operation of the reference component under conditions experienced in a processing plant installation that are compatible with conditions under which the valve is to operate; developing, in a profiler of the integrated diagnostics module (124, 400), the projected lifetime profile for the component based on the previously-recorded performance data and the operating parameter, wherein the projected lifetime profile indicates a projected lifetime of the component as a function of values of the operating parameter; receiving, at the integrated diagnostics module (124, 400), current data of the operating parameter for the component during operation of the valve; analyzing, in a lifetime data analyzer, the current data of the operating parameter for the component and the projected lifetime profile for the component to determine a projected remaining lifetime for the component; and determining an operator notification state of the component based on the determined projected remaining lifetime.