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This book opts for developing a comprehensive rating system for heritage buildings that not only evaluates the different building components but also optimizes the expenditures through effective utilization and allocation of the limited budget among the building components. The system revolves through 4 integrated modules: 1) central database that comprises an inventory of all the building components along with their physical, historical, and financial records; 2) deterioration models that mimic the deterioration nature of the building components to ensure the facility managers make informed decisions at the right time; 3) sustainable rating models for heritage buildings that assess the different building function components through a pre-set criteria and dynamic weighted system; and 4) Optimization model that efficiently allocates the budget among the building components based on the current condition and the available funds. Therefore, to demonstrate the functionality of the system, it will be applied to a real case study (Al-Murabba Palace in Riyadh, Saudi Arabia). To sum up, the system can be utilized by facility managers and governments to safeguard the heritage buildings.