Water and Wastewater Terms Beginning A

A B C D E F G H I J K L M N O P Q R S T U V W Y Z

asset management

The process of maintaining the functionality and value of a utility's assets through repair, rehabilitation, and replacement. Examples of utility assets include buildings, tools, equipment, pipes, and machinery used to operate a water or wastewater system. The primary goal of asset management is to provide safe, reliable, and cost-effective service to a community over the useful life of a utility's assets. Another benefit of an effective asset management program is the extension of the life of the asset.