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This document specifies guidelines for technical aspects, tools and good practices for the management of assets of waterworks to maintain value from existing assets. This document includes the following asset types: treatment plants, sludge treatment facilities, pumping stations, reservoirs, tanks and dosing equipment, metering and ancillary infrastructure irrespective of where they are sited, in the waterworks or in the drinking water distribution network. For further guidance on drinking water distribution networks see ISO 24516-1. NOTE 1 The management of transmission mains is addressed in ISO 24516-1 irrespective of where these assets are sited in the drinking water system. This document is focused on the assets typically owned or operated by drinking water utilities (drinking water systems) that in parts are expected to meet users' needs and expectations over longer (multi-generational) periods. This document includes examples of good practice approaches on the strategic, tactical and operational levels. This document is applicable to all types and sizes of organization and/or utilities operating drinking water systems. NOTE 2 Depending on the size and structure of an organization, the utility can decide to what extent it applies the guidance in this document. In any case, the philosophy of this document remains applicable even to small and medium utilities. NOTE 3 This includes all different roles/functions for the management of assets within a utility (e.g. asset owner/responsible body, asset manager/operator, service provider/operator).