A method comprising: generating, by a computer processor, one or more thermo-fluid parameter estimates of a thermal management system of an engine based on one or more sensed parameters (y s ); monitoring for one or more thermal management system component failures of the thermal management system based on the one or more thermo-fluid parameter estimates and the one or more sensed parameters (y s ), the thermal management system comprising one or more heat exchangers and one or more valves operable to control oil delivery from an oil supply system through the one or more heat exchangers ; generating, by the computer processor, one or more thermo-mechanical parameter estimates based on one or more selected thermo-fluid parameters ; generating, by the computer processor, one or more life usage estimates and life usage rate estimates based on the one or more selected thermo-fluid parameters and the one or more thermo-mechanical parameter estimates ; generating, by the computer processor, one or more life usage rate targets based on one or more external commands and the one or more life usage estimates , the one or more life usage rate targets associated with at least the one or more heat exchangers ; modifying, by the computer processor, one or more limits and goals based on the one or more life usage rate estimates , one or more failure flags from the monitoring for one or more thermal management system component failures, and the one or more life usage rate targets to extend a component life of at least the one or more heat exchangers through thermo-mechanical stress control; and commanding a change in one or more valve positions of one or more valves of the thermal management system to control one or more temperature and pressure within the one or more heat exchangers by the computer processor applying a model predictive control based on one or more thermo-mechanical model parameters, the one or more failure flags , and the one or more limits and goals . generating, by a computer processor, one or more thermo-fluid parameter estimates of a thermal management system of an engine based on one or more sensed parameters (y s ); monitoring for one or more thermal management system component failures of the thermal management system based on the one or more thermo-fluid parameter estimates and the one or more sensed parameters (y s ), the thermal management system comprising one or more heat exchangers and one or more valves operable to control oil delivery from an oil supply system through the one or more heat exchangers ; generating, by the computer processor, one or more thermo-mechanical parameter estimates based on one or more selected thermo-fluid parameters ; generating, by the computer processor, one or more life usage estimates and life usage rate estimates based on the one or more selected thermo-fluid parameters and the one or more thermo-mechanical parameter estimates ; generating, by the computer processor, one or more life usage rate targets based on one or more external commands and the one or more life usage estimates , the one or more life usage rate targets associated with at least the one or more heat exchangers ; modifying, by the computer processor, one or more limits and goals based on the one or more life usage rate estimates , one or more failure flags from the monitoring for one or more thermal management system component failures, and the one or more life usage rate targets to extend a component life of at least the one or more heat exchangers through thermo-mechanical stress control; and commanding a change in one or more valve positions of one or more valves of the thermal management system to control one or more temperature and pressure within the one or more heat exchangers by the computer processor applying a model predictive control based on one or more thermo-mechanical model parameters, the one or more failure flags , and the one or more limits and goals . <EOS>