This paper introduces a stochastic model useful for the evaluation of building performance or decay. The model is especially structured to allow prediction of the value of alternative adaptation during a building's lifetime. It is designed for conditions in which only scanty data on building system operations are available. Extensions considered are: system interactions, nonstationary behavior, and policy formulations based on resource allocations. Incorporated is the necessary accounting framework for data collection so as to allow regular review of maintenance policies.
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