A methodology based upon graph theory and matrix method is developed for the efficiency analysis of a Combined Cycle Power Plant (CCPP) with a view that a person at managerial level may decide regarding efficiency improvement without in-depth knowledge of conventional methods of thermal efficiency evaluation. For the analysis, CCPP is divided into six sub-systems and interdependency is identified to develop system structure digraph. Sub-system efficiencies are further dependent on numerous parameters which are interdependent. Therefore, methodology developed at system level is extended to sub-system level. Performance parameter digraph is developed at sub-system level by intriguing inheritance and interdependencies of parameters. Digraph is converted into matrix form and permanent function is developed. The value of permanent function in real time situation is compared with design condition to obtain Relative Efficiency Index (REI) at sub-system level. REI at sub-system level is guidance for deviation of efficiency index from its design value.Ó 2014 Production and hosting by Elsevier B.V. on behalf of Ain Shams University.