Magnetization reversal in permanent magnets occurs by the nucleation and expansion of reversed domains. Micromagnetic theory offers the possibility to localize the spots within the complex structure of the magnet where magnetization reversal starts. We compute maps of the local nucleation field in a Nd2Fe14B permanent magnet using a model order reduction approach. Considering thermal fluctuations in numerical micromagnetics we can also quantify the reduction of the coercive field due to thermal activation. However, the major reduction of the coercive field is caused by the soft magnetic grain boundary phases and misorientation if there is no surface damage.