AWWA believes that water utilities must adopt a proactive and sustainable approach to the management of their assets throughout the life cycle of the asset, which starts with effective planning and design, continues through operation and maintenance, and incorporates appropriate rehabilitation, replacement and asset disposal.
Asset management should be a key component within a water utility to ensure that it continues to provide, cost-effective, reliable supply and delivery of an adequate quantity of safe water.
When the continued performance of an asset or its component cannot be assured cost-effectively, using prescribed maintenance and reasonable assumptions of the risk of failure, the asset or its component should be augmented, rehabilitated, or replaced.
Adopted by the Board of Directors June 15, 2003, and revised on January 21, 2007. Revised by the Board of Directors January 20, 2013. Revised January 16, 2016.