1.2 Benefits Of Asset Management?



The intent of Asset Management is to ensure the long-term sustainability of the water or wastewater utility. By helping a utility manager understand what assets the utility owns in order to make better decisions on when it is most appropriate to repair, replace, or rehabilitate particular assets and by developing a long-term funding strategy, Asset Management can assist the utility in ensuring its ability to deliver the required level of service far into the future.

There are many positive benefits of Asset Management. Utilities that fully embrace Asset Management principles may achieve many or all of these benefits. Some benefits may be achieved just by initiating Asset Management activities.

Some of the potential benefits of Asset Management are listed below and discussed in the following short videos. However, the type and extent of benefits that can be realized through implementing an Asset Management program are unique to each utility and community. The benefits that you achieve in your utility will depend on which aspects of the program are most important to you, where you focus your efforts, and the needs of your community.

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Better operational decisions

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Improved emergency response

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Greater ability to plan and pay for future repairs and replacements

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Increased knowledge of your assets

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Increased ability to justify needs and prioritize decisions

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More efficient operation

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Better communication with customers

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Better communication with governing body

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Increased acceptance of rates

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Capital improvement projects that meet the true needs of the utility