Managing Your Existing Assets

1. Taking an inventory: Before you can properly manage your assets, you need to know what assets you have and what condition they are in. This information will help you schedule the rehabilitation and replacement of your assets.
2. Prioritizing your assets: Like most water/wastewater systems, you probably have a limited budget. Prioritizing your assets will ensure that you allocate funds to the rehabilitation or replacement projects that will provide your system with the most bang for your bucks and allow you to maintain your most important assets.
3. Developing an asset-management plan: Planning for the rehabilitation and replacement of your assets includes estimating how much money you will need each year to maintain the operation of your system each year. This will include developing a budget and calculating your required reserves.
4. Implementing your asset-management plan: Once you have determined how much money you will need to set aside each year and how much additional funding (if any) you will need, it is important that you work with your management, customers, and regulators in order to carry out your plan and ensure that you have the financial and technical means to deliver safe water to your customers.
5. Reviewing and revising your asset-management plan: Once you have developed an asset management plan, it is important that you don't just stick it on a shelf and forget about it. Your asset management plan should be used to help you shape your overall operations. It is a flexible document that should evolve as you gain more information and as your priorities shift.

Source: U.S. EPA's Asset management Guide for Small Water Systems

Estimated Useful Equipment Life
(as estimated by EPA)

Asset Expected Useful Life (in years)
Intake Structures 35-45
Wells and Springs 25-35
Galleries and Tunnels 30-40
Chlorination Equipment 10-15
Storage Tanks 30-60
Pumps 10-15
Buildings 30-60
Electrical Systems 7-10
Transmission Mains 35-40
Distribution Pipes 35-40
Valves 35-40
Blow-off Valves 35-40
Meters 10-15
Service Lines 30-50
Hydrants 40-60
Lab/Monitoring Equipment 5-7
Computers 5
Transportation Equipment 10