What is Asset Management?
In the simplest terms, Asset Management can be thought of as applied common sense. Asset Management is designed to help people decide how and where to spend their money to achieve the desired results. Such a process is needed when there are competing priorities for limited funding.
Asset Management is a framework to help utilities provide the desired level of service at the lowest life cycle cost. The framework consists of 5 core concepts:
- Asset Inventory
- Level of Service
- Criticality
- Life Cycle Costing
- Long-Term Funding
Where you start depends on your needs and where you are. Resources found in this section will help you better understand what asset management is.
Resources
Asset Management Guidance for Wastewater and Stormwater Systems
Michigan DEQ's Wastewater and Stormwater AM guidance document.
Asset Management Concepts and Tools
This 2012 presentation by Timothy Taber describes the basic concepts and the big questions surrounding asset management.
Asset Management for Local Officials
A two-page fact sheet to help local officials involved in water system decisions understand the basics of asset management and their role...
Asset Management: An Introduction
This five-page introduction covers the five core components of asset management and includes an example and further resources to help users produce...
Asset Management for Utility Boards
Safe, Clean Water. It’s Up to You! – A Utility Board Video Series. The following videos can help utility boards, city staff...
Non-Community Water Systems Asset Management Training
This Non-Community Water System Asset Management Training is recommended for both transient and non-transient systems and can be presented as a two-hour...
Water and Wastewater Utility Operation and Management for Tribes – Asset Management Overview
Training video describing Asset Management for Tribal Water and Wastewater Utility Operation and Management.
Asset Management Program General Template Guidance
This guidance outlines a template for an Asset Management Plan for water systems. This guidance, applicable for use by non-community water systems,...
AM KAN Work!
A.M. Kan Work! is an asset management and energy efficiency manual sponsored by the Kansas Department of Health & Environment and prepared...
Environmental Finance Center Network: Webinars
This series of video playlists contain webinars on asset management, rate setting, and other information on water utility financing.
Asset Management 101 – U.S. EPA
This presentation covers the basics of asset management for small water and wastewater systems -- the who, what, where, when, and why.
AM 101
This presentation is a brief overview of the five core components of Asset Management and the suggested starting point to become familiar...
Asset Management: A Handbook for Small Water Systems
A STEP guide to help owners and operators of small community water systems. The guide describes the basic concepts of asset management...
Asset Management: A Best Practices Guide
A 4-page guide to help water system owners, managers, and operators as well as local officials, technical assistance providers, and state personnel...
Integrated Asset Management Framework: Combining Green and Gray Assets
This framework is for water, wastewater and stormwater systems of any size who are interested in implementing asset management practices. The framework...