A system for maintaining an asset throughout its lifetime, from installation to disposal, is essential to sound and cost-effective building management. Knowing the right time to procure replacement equipment will depend on a professional understanding of each asset. Tracking and recording an asset’s service history can provide valuable tools to predict when equipment will likely fail or, more often, need replacing. Although the information available will inform the decision-making process throughout its lifetime, the data should also assist in budgeting for procurement, and ongoing maintenance of replacement assets.