“Doing the right work,
making the right investment,
at the right time
for the right reasons”
What is Asset Management?
All water and wastewater systems are made up of assets. These include pipes, valves, tanks, pumps, hydrants, wells, etc. At some point in their lifetime, assets will begin to deteriorate, and eventually fail. For a small water or wastewater system, these costs can build up rapidly if there is no plan in place to assist with paying for these often unexpected failures.
The EPA defines asset management as “a process for maintaining a desired level of customer service at the best appropriate cost”. It can assist decision making within the confines of a system’s limited resources, while continuously delivering the levels of service that customers’ desire and regulators require.
What are some of the benefits of Asset Management?
There are several benefits to implementing an asset management program to your utility. These include, but are not limited to:
- Better operational decisions
- Improved emergency response
- Greater ability to plan and pay for future repairs and replacements
- Increased knowledge of the location of the assets
- Increased knowledge of what assets are critical to the utility and which ones aren’t
- More efficient operation
- Better communication with customers
- Rates based on sound operational information
- Increased acceptance of rates
- Capital improvement projects that meet the true needs of the system
An excerpt from Asset Management: a Guide for Water and Wastewater Systems, repared by the New Mexico Environmental Finance Center.
Village of Waterbury Asset Management Pilot Project
Presentation slides from the Green Mountain Water Environment Association Conference (May 2013)
For more information please feel free to contact us or click on one of the helpful links below:
Environmental Finance Center Network
More specific Information on Asset Management
EPA developed free CUPSS software information and download