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Description: A Guide to Asset Management: What, Why, and How
A Guide to Asset Management: What, Why, and How
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A Guide to Asset Management: What, Why, and How is a comprehensive guide to the thought process of asset management. Often people think of asset management as a technology-driven activity—what can you do with a computer or with software—rather than realizing that it is first and foremost a way of thinking. It is a strategic process that involves five main components: current state of the assets, level of service, criticality, life cycle costing, and long-term funding. The book describes each of these components, along with ancillary topics that are necessary to fully understand and implement asset management, including:
• The Asset Management Plan
• Getting Started
• Measuring Progress
• Assessing Triple Bottom Line Benefits
• Tools and Resources Available
Author(s)
Water Environment Federation
SourceHeather Himmelberger, PE
Document typeDigital Book
PublisherWater Environment Federation
Print publication date Jun 2026
Print ISBN 978-1-57278-434-5
EISBN 978-1-57278-473-4
Volume / Issue
First / last page(s)1 - 322
Copyright2026
Word count112,677
Subject keywordsasset managementasset implementationgreen infrastructurelong-term fundingfundinglife cycleasset inventorycost

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Description: A Guide to Asset Management: What, Why, and How
About WEF
A Guide to Asset Management: What, Why, and How
The Water Environment Federation (WEF) is a not-for-profit technical and educational organization of more than 30,000 individual members and 75 affiliated Member Associations representing water quality professionals around the world. Since 1928, WEF and its members have protected public health and the environment. WEF and its global network of members and...
PublisherWater Environment Federation
Copyright2026
Word count110
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Description: A Guide to Asset Management: What, Why, and How
Contents
A Guide to Asset Management: What, Why, and How
PublisherWater Environment Federation
Copyright2026
Word count562
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Description: A Guide to Asset Management: What, Why, and How
List of Figures
A Guide to Asset Management: What, Why, and How
PublisherWater Environment Federation
Copyright2026
Word count251
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Description: A Guide to Asset Management: What, Why, and How
List of Tables
A Guide to Asset Management: What, Why, and How
PublisherWater Environment Federation
Copyright2026
Word count277
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Description: A Guide to Asset Management: What, Why, and How
Glossary
A Guide to Asset Management: What, Why, and How
Asset Management: Water utilities have to manage their assets regardless of whether they take on a formal asset management program or not. They need to make decisions about operations, maintenance, repair, rehabilitation, replacement, workforce, and many other things. What is referred to as “asset management” in this book is a formal, strategic, structured approach to managing...
PublisherWater Environment Federation
Copyright2026
Word count432
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Description: A Guide to Asset Management: What, Why, and How
List of Acronyms
A Guide to Asset Management: What, Why, and How
AC
PublisherWater Environment Federation
Copyright2026
Word count394
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Description: A Guide to Asset Management: What, Why, and How
Preface
A Guide to Asset Management: What, Why, and How
In Trever Noah’s book, Born a Crime, he talks about the old saying, “if you give a man a fish he has a meal and if you teach a man to fish he can feed himself for a lifetime” and how it leaves a very important component out. His insight is that the man not only needs to learn how to fish, he also needs a fishing pole. As I was writing this book, I listened to the audio...
PublisherWater Environment Federation
Copyright2026
Word count1,271
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Description: A Guide to Asset Management: What, Why, and How
Chapter 1: Why Asset Management?
A Guide to Asset Management: What, Why, and How
Rather than, “Why Asset Management?” the question should probably be why NOT asset management? Water utilities (drinking water, wastewater, and stormwater) must manage infrastructure every single day to ensure safe, clean water enters the home and returns to the environment. Drinking water treatment and delivery and wastewater collection and treatment are the foundation of all...
PublisherWater Environment Federation
Copyright2026
Word count9,465

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Description: A Guide to Asset Management: What, Why, and How
Chapter 2: Level of Service
A Guide to Asset Management: What, Why, and How
While asset management discussions most often start with the Current State of the Assets, a better starting place is Level of Service. The main function of a drinking water utility is to provide a desired product (safe, clean, healthy drinking water) to its customers. The main function of a wastewater utility is to clean used water (sewage) to a high quality so that it can be safely returned to...
PublisherWater Environment Federation
Copyright2026
Word count12,305

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Description: A Guide to Asset Management: What, Why, and How
Chapter 3: Asset Inventory
A Guide to Asset Management: What, Why, and How
PublisherWater Environment Federation
Copyright2026
Word count13,290

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Description: A Guide to Asset Management: What, Why, and How
Chapter 4: Criticality
A Guide to Asset Management: What, Why, and How
Criticality is the heart and soul of asset management. Understanding criticality enables resources to be put towards the greatest need for the utility, and expenditures on critical assets can reduce the overall criticality for the organization. Reducing criticality helps prevent or reduce the number and magnitude of catastrophic events that can provide financial, environmental, and social...
PublisherWater Environment Federation
Copyright2026
Word count6,209

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Description: A Guide to Asset Management: What, Why, and How
Chapter 5: Life Cycle Costing
A Guide to Asset Management: What, Why, and How
Life cycle costing is probably the most involved and complicated portion of asset management. It combines many different elements to enable decision-making from the start of the asset’s life all the way through the end of life. Life cycle costing represents the intersection of managing individual assets in a cost-effective manner (managing assets) with strategically managing the entire...
PublisherWater Environment Federation
Copyright2026
Word count17,522

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Description: A Guide to Asset Management: What, Why, and How
Chapter 6: Long-Term Funding
A Guide to Asset Management: What, Why, and How
In the long-term funding portion of asset management, it is necessary to consider the amount of money the utility has to cover all of its operating expenses (op ex), capital expenses (cap ex), and debt service, whether this amount of funding is sustainable, and whether it is sufficient to cover the required expenses. This component also considers the potential sources of money that are available...
PublisherWater Environment Federation
Copyright2026
Word count11,898

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Description: A Guide to Asset Management: What, Why, and How
Chapter 7: Asset Management: It Works for Green as Well as Gray Assets
A Guide to Asset Management: What, Why, and How
Asset management has traditionally been used to manage “gray” assets—those human-made elements of a water system, such as pipe, tanks, manholes, treatment units, meters, fire hydrants, valves, and pumps. However, there are often other elements of a water system that are natural or green assets, including land around a source of...
PublisherWater Environment Federation
Copyright2026
Word count8,434

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Description: A Guide to Asset Management: What, Why, and How
Chapter 8: Asset Management Implementation
A Guide to Asset Management: What, Why, and How
The benefits of an asset management program cannot be realized if the elements are not implemented. The water system should observe behavior change as a result of its actions. Additionally, the asset management program must be sustained over time. Activities and actions must be put in place to ensure that the program continues over the long term....
PublisherWater Environment Federation
Copyright2026
Word count10,622

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Description: A Guide to Asset Management: What, Why, and How
Chapter 9: Maintaining Support for Asset Management
A Guide to Asset Management: What, Why, and How
PublisherWater Environment Federation
Copyright2026
Word count6,039

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Description: A Guide to Asset Management: What, Why, and How
Chapter 10: What an Elected Leader Needs to Know
A Guide to Asset Management: What, Why, and How
Elected leaders, governing bodies, volunteer water leaders, or owners are entrusted with making decisions for their water systems including approving and funding necessary replacement projects, hiring executive level employees, setting the overall mission and direction, and monitoring progress towards meeting goals. These leaders may be responsible...
PublisherWater Environment Federation
Copyright2026
Word count3,762

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Description: A Guide to Asset Management: What, Why, and How
Appendix A: AMP Outline
A Guide to Asset Management: What, Why, and How
This outline offers one option for an asset management plan (AMP). There are many other options and possibilities, and this outline can be adapted to meet the needs of the entity using it. It is best to keep the AMP as succinct as possible without a lot of background on asset management in general or other general information. Also, it is best to...
PublisherWater Environment Federation
Copyright2026
Word count2,071
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Description: A Guide to Asset Management: What, Why, and How
Appendix B: Teaching Asset Management in Engineering (Or Other Water Related Major): Creating a Class or Portion of a Class at the University Level
A Guide to Asset Management: What, Why, and How
Asset management as a concept and a way of doing business is growing in practice for water utilities. There are regulatory requirements for asset management within several states and some state and federal funding agencies have requirements for asset management to obtain funding for capital projects. In other cases, states and federal entities have incentives for asset management to encourage the...
PublisherWater Environment Federation
Copyright2026
Word count5,923
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Description: A Guide to Asset Management: What, Why, and How
Index
A Guide to Asset Management: What, Why, and How
General content index
PublisherWater Environment Federation
Copyright2026
Word count1
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Description: A Guide to Asset Management: What, Why, and How
Print Index
A Guide to Asset Management: What, Why, and How
PublisherWater Environment Federation
Copyright2026
Word count1,537
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A Guide to Asset Management: What, Why, and How