Replacements, ranked by risk and budget

Asset replacement planning software forecasts when each asset will reach end-of-life and what replacing it will cost, then rolls those into a multi-year capital plan. Instead of reacting to failures, you see the next two decades of replacements - prioritized by risk and matched against budget - years before the spend.

Each asset's purchase year plus expected lifetime predicts its end-of-life year, and its replacement cost is projected forward with a configurable inflation rate. The lifecycle data you already maintain feeds the forecast automatically - no separate planning spreadsheet to keep alive.

A complete plan lists every asset with its install year, expected useful life, and current replacement value; a condition score or FCI; a risk rating; a forecast replacement year with an inflation-adjusted cost; and the funding status of each planned replacement. Rolled up by year, it becomes a 20-year replacement capital forecast - the document a council or board can actually approve.

Start from the current replacement value (CRV) of the asset - what it would cost to replace today - and project it forward with inflation to the year the replacement actually lands. A $200,000 roof due in 2038 is not a $200,000 line item. Lifecycle cost analysis then adds the maintenance and operating costs over the life of the replacement asset.

Twenty years is the common horizon for capital planning, because it captures the full life of major building systems (HVAC roughly 15-25 years, roofing 20-30 years, electrical 25-40 years). Shorter horizons miss the peak years that matter most for budgeting.

Each candidate gets a priority from CRITICAL to LOW from a weighted score: lifecycle stage (40 by default), condition (25), criticality, meaning consequence of failure across safety, service and four more dimensions (25), and repair spend against replacement value (10). You can adjust the weights. The ranking gives you objective criteria for which assets get funded first - and a defensible answer when someone asks why theirs didn't.

Replacement capital is the money set aside to replace existing assets as they wear out - as opposed to growth capital, which funds new capacity. Forecasting it starts with each asset's end-of-life year and inflation-adjusted replacement cost; rolled up by year, those become the annual replacement capital requirement your budget can be tested against. AssetLab calculates this per year, per site, and per system across a 20-year horizon.

The facility condition index divides deferred maintenance cost by replacement value - a quick health score for a building or portfolio. Higher FCI means deterioration is outpacing investment, which translates directly into shorter replacement horizons. Read about FCI forecasting.

Set an annual capital budget and allocate it to specific replacement plans. AssetLab shows allocated versus remaining funds per year - and when forecast needs exceed the budget, the funding gap is quantified years in advance, which is exactly the evidence a funding-increase request needs.

A lifecycle strategy models the interventions between buying an asset and replacing it - a roof recoat at condition 70-85 that adds five years, a boiler retube at 40-60 that resets condition to 100. Each event carries a fixed cost, a cost source, and a trigger window, set once per asset type or type group, and every matching asset projects its own sawtooth condition curve anchored at its own assessed condition. The planner ranks by extended life rather than raw design life, and the dashboard prices the program - year-by-year cash flow against the run-to-replacement line, years of life added, replacement value deferred, and each strategy ranked by cost per added year of life.

US-based platforms typically gate capital planning behind enterprise tiers at $100+ USD per user per month. AssetLab publishes its pricing in CAD: replacement forecasting, prioritization, FCI analysis, and budget tracking are all part of the 360 plan at $65 per user/month - no per-module licensing. See pricing for details.