A method of evaluating a power plant having a design life based on operating the plant within an allowable chemical exposure range includes accumulating a history of a chemical exposure of a steam generating portion of the power plant. The method also includes determining a remaining life of the plant based on the history of the chemical exposure and assuming continued operation of the plant within the allowable chemical exposure range. The method may also include evaluating an economic value of operating the plant based on the remaining life of the plant.