A lift system and method for installation and removal of a combustion can from a turbomachine are provided. The lift system includes a rail, a portable cart assembly, and a slide assembly. The portable cart assembly includes a combustion can cradle assembly coupled to a telescopic member. The combustion can cradle assembly is configured to removably couple to a combustion can of the turbomachine. The slide assembly is removably couplable to the portable cart assembly and the rail. The slide assembly is movable with the portable cart assembly along the rail to adjust a position of the combustion can cradle assembly.