How to Manage Your Assets Strategically to Balance Service, Investment, and Risk to Optimize Their Life Cycle

Wastewater infrastructure reinvestment needs are high across the U.S., and lack of funding is a common challenge among utilities to addressing the need for renewed (rehabilitated or replaced) infrastructure. Managing wastewater assets in a manner that optimizes their lifecycle and investment can be challenging among the many drivers, constraints, stakeholders, and other influencing factors that utilities encounter. Experiential lesson s learned, best practices, and theory may be drawn upon to help chart the path forward for establishing knowledge and capabilities to manage assets strategically with the ultimate goal of optimizing their life cycle while considering service level attainment, investment, and risk. This paper presents examples of applicable and timely theory and tools for managing collection system assets today.