1. An asset surveillance system, comprising in combination: an operating mode partitioned fault classification model of an asset comprised of a plurality of fault classification submodels each having an asset operating mode associated thereto; a fault indication means for determining one or more fault indications given a set of observed asset signals from the asset; means for determining at least one operating mode of the asset for the set of observed asset signals; a first selection means for selecting at least one of the fault classification submodels from the operating mode partitioned fault classification model as a function of at least the one determined operating mode for providing a fault classification of determined fault indications for performing asset surveillance.