Asset management guidance and best practices managing utility assets in new jersey introduction the njdep is responsible for evaluating managing and protecting new jerseys water resources to ensure that a safe adequate and reliable water supply is available to the public and to restore enhance. 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. What is asset management 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. The right asset management policy and practices combined with state of the art utility maintenance software water industry managers can ensure they make data driven investments at the right time doing so helps with the maintenance of assets and minimizing minimize future repair replacement and rehabilitation costs as well. 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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