AWWA believes that understanding the assets utilities own and/or manage is of great importance. AWWA believes that utilities should adopt a proactive, sustainable, solution-oriented approach to manage assets in support of the economic, social, and environmental needs of the area served. This will help maximize the value of service delivery to customers without compromising the ability to meet the needs of future generations. Managing assets incorporates a full life-cycle approach, starting with effective planning and design, and continuing through optimized operation and maintenance, appropriate rehabilitation, replacement and asset disposal.
Effective management includes both asset and non-asset focused solutions to meet customer objectives. When the cost-effective performance of an asset cannot be assured, using prescribed maintenance and reasonable assumptions of the risk of failure, consideration should be given to rehabilitating or replacing the asset, or a non-asset focused solution should be employed.
Asset management principles should be embedded within the utility’s decision-making process. Such principles will promote a culture of collaboration and help develop long-term, continually improving, resilient, integrated water management strategies to achieve defined levels of service that are cost-effective, safe, and reliable at an acceptable level of risk. The utility should allocate appropriate resources to operate in accordance with these principles.
Practices specified in this policy statement are consistent with all other pertinent AWWA policy statements.
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. Revised April 19, 2019.