Disclosed is an active or dynamic RFID tag that actively provides current status information regarding a particular item, as well as mechanisms for recognizing dynamic RFID information read from such RFID tag. Static identifying information regarding the particular item is provided either by the same active/dynamic RFID tag or by a different passive RFID tag. While the RFID tag may passively or actively provide general identification, the RFID actively provides status information that corresponds to changes in the corresponding item's status. In a first implementation, active RFID tags are positioned next to one or more components within a system so that each active RFID tag is powered and transmitting its RFID information when its corresponding component is operational. In contrast, each active RFID tag is positioned so that it is not powered and not transmitting its RFID information when its component is failing. Accordingly, an RFID reader can then know when a system has a failing component when a one of the component's corresponding active RFID tag is not transmitting its RFID information. In this first implementation, the active RFID either transmits or fails to transmit based on its component's status state. In a second implementation, a dynamic RFID is associated with a specific component, set of components, or system, and the dynamic RFID tag dynamically provides an RFID reader with RFID information that changes with its associated item's changing status state. The status state may correspond to any suitable parameter of the item or product that can change over time. Thus, the dynamic RFID provides different transmission frequencies based on different status states of its component or system.