In 2004, Colorado Springs Utilities initiated the Raw Water Infrastructure Improvement Program with the stated goal of developing a baseline condition assessment of all raw water delivery systems exclusively owned and operated by the Utility. Additionally, this project would set the framework for several service lines that are incorporating a utility wide Asset Management Program. To date, Colorado Springs Utilities has completed the third of a four phase project that incorporates Condition Assessment, Asset Mapping and Inventory, Risk Based Prioritization for Capital and Operation and Maintenance funding, and the development of processes and procedures to implement an Asset Based Management Program. With the Program as the backdrop, this paper presents the challenges, solutions implemented, processes and procedures developed to ensure continued progress toward a utility wide Asset Management Program, and lessons learned to provide insights for other utility owners that are tasked to do more with less. Includes references, tables, figures.