{"id":247599,"date":"2026-08-26T18:23:35","date_gmt":"2026-08-26T18:23:35","guid":{"rendered":"https:\/\/swefc.unm.edu\/home\/?page_id=247599"},"modified":"2026-09-24T01:31:29","modified_gmt":"2026-09-24T01:31:29","slug":"what-is-asset-management","status":"publish","type":"page","link":"https:\/\/swefc.unm.edu\/home\/infohubs\/asset-management\/what-is-asset-management\/","title":{"rendered":"What is Asset Management?"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.27.7&#8243; _module_preset=&#8221;default&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row column_structure=&#8221;3_5,2_5&#8243; _builder_version=&#8221;4.27.7&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;3_5&#8243; _builder_version=&#8221;4.27.7&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.27.8&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<h2>What is Asset Management?<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.8&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<p>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.<\/p>\n<p><span>Asset Management is a framework to help\u00a0utilities provide the\u00a0<\/span><b>desired level of\u00a0service\u00a0<\/b><span>at the lowest\u00a0<\/span><b>life cycle cost.\u00a0<\/b><span>The framework\u00a0consists of 5 core concepts:\u00a0<\/span><\/p>\n<ul>\n<li>Asset Inventory<\/li>\n<li>Level of Service<\/li>\n<li>Criticality<\/li>\n<li>Life Cycle Costing<\/li>\n<li>Long-Term Funding<\/li>\n<\/ul>\n<p><span>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.<\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;2_5&#8243; _builder_version=&#8221;4.27.7&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_image src=&#8221;https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/08\/asset_management.jpeg&#8221; title_text=&#8221;asset_management&#8221; _builder_version=&#8221;4.27.8&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.27.7&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.27.7&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_divider _builder_version=&#8221;4.27.7&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.27.7&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.27.7&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.27.9&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; locked=&#8221;off&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<h2>Resources<\/h2>\n<p>[\/et_pb_text][et_pb_code _builder_version=&#8221;4.27.9&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<style><!-- [et_pb_line_break_holder] -->.am-resource-grid {<!-- [et_pb_line_break_holder] -->  display: grid;<!-- [et_pb_line_break_holder] -->  grid-template-columns: repeat(3, 1fr);<!-- [et_pb_line_break_holder] -->  gap: 28px;<!-- [et_pb_line_break_holder] -->}<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->.am-resource-card {<!-- [et_pb_line_break_holder] -->  background: #fff;<!-- [et_pb_line_break_holder] -->  border: 1px solid #ddd;<!-- [et_pb_line_break_holder] -->  border-radius: 10px;<!-- [et_pb_line_break_holder] -->  overflow: hidden;<!-- [et_pb_line_break_holder] -->  box-shadow: 0 3px 12px rgba(0,0,0,.08);<!-- [et_pb_line_break_holder] -->}<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->.am-resource-card img {<!-- [et_pb_line_break_holder] -->  width: 100%;<!-- [et_pb_line_break_holder] -->  height: 180px;<!-- [et_pb_line_break_holder] -->  object-fit: cover;<!-- [et_pb_line_break_holder] -->  display: block;<!-- [et_pb_line_break_holder] -->}<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->.am-resource-card h3,<!-- [et_pb_line_break_holder] -->.am-resource-card p,<!-- [et_pb_line_break_holder] -->.am-read-more {<!-- [et_pb_line_break_holder] -->  padding-left: 20px;<!-- [et_pb_line_break_holder] -->  padding-right: 20px;<!-- [et_pb_line_break_holder] -->}<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->.am-resource-card h3 {<!-- [et_pb_line_break_holder] -->  margin-top: 18px;<!-- [et_pb_line_break_holder] -->}<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->.am-resource-card p {<!-- [et_pb_line_break_holder] -->  margin-bottom: 10px;<!-- [et_pb_line_break_holder] -->}<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->.am-read-more {<!-- [et_pb_line_break_holder] -->  display: block;<!-- [et_pb_line_break_holder] -->  margin-bottom: 20px;<!-- [et_pb_line_break_holder] -->  font-weight: 600;<!-- [et_pb_line_break_holder] -->}<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->@media (max-width:980px){<!-- [et_pb_line_break_holder] -->  .am-resource-grid {<!-- [et_pb_line_break_holder] -->    grid-template-columns: repeat(2,1fr);<!-- [et_pb_line_break_holder] -->  }<!-- [et_pb_line_break_holder] -->}<!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] -->@media (max-width:600px){<!-- [et_pb_line_break_holder] -->  .am-resource-grid {<!-- [et_pb_line_break_holder] -->    grid-template-columns: 1fr;<!-- [et_pb_line_break_holder] -->  }<!-- [et_pb_line_break_holder] -->}<!-- [et_pb_line_break_holder] --><\/style>\n<p><!-- [et_pb_line_break_holder] --><!-- [et_pb_line_break_holder] --><div class=\"am-resource-grid\"><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/asset-management-an-introduction\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/Intro-to-Asset-Management.jpg\" alt=\"Asset Management: An Introduction\"><h3>Asset Management: An Introduction<\/h3><\/a><p>This five-page introduction covers the five core components of asset management and includes an example and further resources to help users produce...<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/asset-management-for-utility-boards\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/Board_screencap-scaled-1-1024x585.jpg\" alt=\"Asset Management for Utility Boards\"><h3>Asset Management for Utility Boards<\/h3><\/a><p>Safe, Clean Water. It\u2019s Up to You! \u2013 A Utility Board Video Series. The following videos can help utility boards, city staff...<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/non-community-water-systems-asset-management-training\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/NCNT_screencap_overviewtitle-1024x642.jpg\" alt=\"Non-Community Water Systems Asset Management Training\"><h3>Non-Community Water Systems Asset Management Training<\/h3><\/a><p>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...<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/asset-management-guidance-for-wastewater-and-stormwater-systems\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/Asset-Management-Guidance-for-Wastewater-and-Stormwater-Systems.png\" alt=\"Asset Management Guidance for Wastewater and Stormwater Systems\"><h3>Asset Management Guidance for Wastewater and Stormwater Systems<\/h3><\/a><p>Michigan DEQ&#039;s Wastewater and Stormwater AM guidance document.<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/asset-management-concepts-and-tools\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/Asset_Management_Concepts_and_Tools-1024x706.jpg\" alt=\"Asset Management Concepts and Tools\"><h3>Asset Management Concepts and Tools<\/h3><\/a><p>This 2012 presentation by Timothy Taber describes the basic concepts and the big questions surrounding asset management.<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/asset-management-for-local-officials\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/Asset-Managment-for-Local-Officials.jpg\" alt=\"Asset Management for Local Officials\"><h3>Asset Management for Local Officials<\/h3><\/a><p>A two-page fact sheet to help local officials involved in water system decisions understand the basics of asset management and their role...<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/water-and-wastewater-utility-operation-and-management-for-tribes-asset-management-overview\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/Water-and-Wastewater-Utility-Operation-and-Management-for-Tribes-Asset-Management-Overview-1024x762.png\" alt=\"Water and Wastewater Utility Operation and Management for Tribes &#8211; Asset Management Overview\"><h3>Water and Wastewater Utility Operation and Management for Tribes &#8211; Asset Management Overview<\/h3><\/a><p>Training video describing Asset Management for Tribal Water and Wastewater Utility Operation and Management.<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/asset-management-program-general-template-guidance\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/Asset-Management-Program_General-Template-Guidancejpg.jpg\" alt=\"Asset Management Program General Template Guidance\"><h3>Asset Management Program General Template Guidance<\/h3><\/a><p>This guidance outlines a template for an Asset Management Plan for water systems. This guidance, applicable for use by non-community water systems,...<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/am-kan-work\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/AMKanCover.jpg\" alt=\"AM KAN Work!\"><h3>AM KAN Work!<\/h3><\/a><p>A.M. Kan Work! is an asset management and energy efficiency manual sponsored by the Kansas Department of Health &amp; Environment and prepared...<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/integrated-asset-management-framework-combining-green-and-gray-assets\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/IAMF_Resource_Image.jpg\" alt=\"Integrated Asset Management Framework: Combining Green and Gray Assets\"><h3>Integrated Asset Management Framework: Combining Green and Gray Assets<\/h3><\/a><p>This framework is for water, wastewater and stormwater systems of any size who are interested in implementing asset management practices. The framework...<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/environmental-finance-center-network-webinars\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/Environmental-Finance-Center-Network-Webinars-1-1024x807.png\" alt=\"Environmental Finance Center Network: Webinars\"><h3>Environmental Finance Center Network: Webinars<\/h3><\/a><p>This series of video playlists contain webinars on asset management, rate setting, and other information on water utility financing.<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/asset-management-101-u-s-epa\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/AM101.jpg\" alt=\"Asset Management 101 &#8211; U.S. EPA\"><h3>Asset Management 101 &#8211; U.S. EPA<\/h3><\/a><p>This presentation covers the basics of asset management for small water and wastewater systems -- the who, what, where, when, and why.<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/am-101\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/AM101_Image.png\" alt=\"AM 101\"><h3>AM 101<\/h3><\/a><p>This presentation is a brief overview of the five core components of Asset Management and the suggested starting point to become familiar...<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/asset-management-a-handbook-for-small-water-systems\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/Asset-Management-A-Handbook-for-Small-Water-Systems.jpg\" alt=\"Asset Management: A Handbook for Small Water Systems\"><h3>Asset Management: A Handbook for Small Water Systems<\/h3><\/a><p>A STEP guide to help owners and operators of small community water systems. The guide describes the basic concepts of asset management...<\/p><\/div><div class=\"am-resource-card\"><a href=\"https:\/\/swefc.unm.edu\/home\/asset-management-resource\/asset-management-a-best-practices-guide\/\"><img decoding=\"async\" src=\"https:\/\/swefc.unm.edu\/home\/wp-content\/uploads\/2026\/09\/Asset-Management-A-Best-Practices-Guide.jpg\" alt=\"Asset Management: A Best Practices Guide\"><h3>Asset Management: A Best Practices Guide<\/h3><\/a><p>A 4-page guide to help water system owners, managers, and operators as well as local officials, technical assistance providers, and state personnel...<\/p><\/div><\/div>[\/et_pb_code][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.27.7&#8243; _module_preset=&#8221;default&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row column_structure=&#8221;3_5,2_5&#8243; _builder_version=&#8221;4.27.7&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;3_5&#8243; _builder_version=&#8221;4.27.7&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.27.8&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;] What is Asset Management? [\/et_pb_text][et_pb_text _builder_version=&#8221;4.27.8&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;] 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 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":242242,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"<!-- wp:divi\/placeholder \/-->","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"class_list":["post-247599","page","type-page","status-publish","hentry"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.2 - aioseo.com -->\n\t<meta name=\"description\" content=\"A 4-page guide to help water system owners, managers, and operators as well as local officials, technical assistance providers, and state personnel understand asset management fundamentals, benefits, best practices, and how to implement an Asset Management Program.\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" 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