Asset management practices for water and wastewater utilities water and wastewater treatment collection and distribution systems are aging quickly in the us alone more than 600 billion of repairs upgrades and replacements will be needed over the next 20 years. Asset management is a process water and wastewater utilities can use to make sure that planned maintenance can be conducted and capital assets pumps motors pipes etc can be repaired replaced or upgraded on time and that there is enough money to pay for it. Asset management guidance and best practices major generally recognized components of a utility asset management plan include asset inventory and condition assessment some water and wastewater utilities do not have a complete inventory of their infrastructure assets. Fixed asset management best practices for utilities fixed asset management practices vary across the spectrum from basic tracking of fixed asset items to the adoption of an asset life cycle methodology. Assessing utility practices with the strategic asset management gap analysis tool sam gap 2 the water environment research foundation a not for profit organization funds and manages water quality research for its subscribers through a diverse public private partnership between municipal utilities corporations
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