1. A method for assessing residual life of an airfoil, the method comprising: receiving, at a processing system, at least one vibration response parameter associated with the airfoil; processing at least one cracked airfoil finite element model, wherein processing the cracked airfoil finite element model comprises: accessing the cracked airfoil finite element model; computing a modal stress intensity factor (SIF) of the cracked airfoil finite element model using fracture mechanics based finite element analysis; and computing a vibratory SIF based, at least in part, on the modal SIF and the at least one vibration response parameter; and computing a residual life indicator of the airfoil based, at least in part, on the vibratory SIF.