A method for operating a multi-cylinder internal combustion engine includes controlling opening of intake or exhaust valves, via a step of generating a control current in a control circuit for an electrical actuator coupled with the valve. The control circuit is then monitored for an induced current that differs from the control current, and a signal outputted that is indicative of valve performance responsive to monitoring the control circuit. Another operating method includes determining engine valve performance and also trimming an engine valve based on one signal which is indicative of valve performance. An internal combustion engine includes an electrical actuator configured to control opening or closing of one of an intake valve and an exhaust valve. An electronic control module is configured via a software fault detection routine to determine a performance condition of an intake or exhaust valve in the engine via monitoring a control circuit for induced currents when an electrical actuator coupled with the intake or exhaust valve is de-energized.