20190429 08250900 1.0 TRUE Asset Management is often defined as a framework that is built around a body of leading practices. This way of thinking focuses on seeking the lowest total lifecycle cost of ownership for infrastructure assets while delivering services at a level customers and stakeholders require and are willing to pay for at an acceptable level of risk to the community. Asset Management; Water Main; Core Risk; PoF; CoF MWU layers supporting asset management. Madison Water Utility Asset Management 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