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Timely run-time software replacement techniques are a corner stone for reconciling real-time systems development and dynamic behavior. Typical real-time systems do not consider dynamic behavior because it deeply challenges predictability and timeliness. Current efforts are starting to merge the safe and predictable execution with a controllable level of dynamicity by imposing a set of bounds and limitations to the system dynamic behavior. One of the obstacles for this is how to time-bound the different operations required to effectively implement component replacement. In this paper, the main challenges for this problem are identified, and a model to ensure that components can be replaced at run time preserving the temporal properties of the system is provided that also avoids failures in replacements. A real example and simulations of our replacement model are provided that validate the presented ideas. Copyright (C) 2013 John Wiley & Sons, Ltd.