The physics of failure (PoF) methodology is a primary approach for prognostics, especially for those of electronic products and assemblies. This paper summarizes the requirements for developing a generic field deployable prognostic software system using the model-based approach. It then proposes an implementation solution to design such a system while meeting those requirements. It in the end shows a preliminary design of the system and presents some results that a prototype of the system delivers. This paper provides a technical framework for developing a model-based prognostic system for electronic products and assemblies.