Accurate equipment performance analysis and condition evaluation is the basis for the implementation of condition-based maintenance. Some research is done around the economic analysis and condition evaluation of condensing steam turbine in this paper. Furthermore, how to use economic indicators for early fault prediction and diagnosis is also discussed. Firstly, the economic index system of steam turbine is established. A economic evaluation model based on cumulative Logistic regression analysis is proposed. When using economic indicators for early fault prediction and diagnosis, in order to remove the effects of variable conditions, the method of calculating reference value of economic indicators of flow passage and thermal system is given. Finally,a state probabilistic model is established to determine the anomaly threshold and fault threshold. The model using the historical operating data, is a dynamic adjustment process, can reflect the running state of equipment.
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