A method of fault event identification which comprises the steps of receiving a plurality of parameter measurements, performing single fault isolation to establish one of the plurality of parameter measurements as an event start, one of the plurality of parameter measurements as an event detect, and one of the parameter measurements as an event end wherein a latency period extends from the event start to the event detect and a blackout period extends from the event start to the event end, performing multiple fault isolation to establish a first trend line for the plurality of parameter measurements prior to the blackout period and after the blackout period, reprocessing the parameter measurements in the latency period, processing the parameter measurements in the blackout period, calculating a model IC from the reprocessed parameter measurements, calculating a plurality of single fault vectors, calculating an estimate for each of the single fault vectors, calculating a normalized error for each of said plurality of single fault vectors, calculating a polarized error term for each of the plurality of single fault vectors, and selecting the single fault vector with smallest of the calculated normalized errors.