Asset Management And The Age Of Infrastructure

The United States faces a critical need to repair its aging water infrastructure, some of which dates back over a century. The Environmental Protection Agency's 2023 Drinking Water Infrastructure Needs Survey estimates that $625 billion is required over the next 20 years for repairs and replacements, marking a 32% increase from the 2018 survey. The American Water Works Association's 2023 State of the Water Industry report also highlights aging infrastructure as the top challenge, followed by concerns over long-term water supply and financing for capital improvements.

Effective asset management is crucial for maintaining and upgrading water systems. By maintaining a detailed inventory of assets, including their condition and history, water systems can prioritize investments and predict potential failures, ensuring that limited funds are used most effectively to benefit communities.