…A Case of the Shoemaker’s Children

By Kristy Neckowicz

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Each year, financial and capital program managers must strike a balance between rate increases and the requirement to modernize our water and wastewater utilities. As our sights are fixated on the nation’s aging and failing water infrastructure, we have neglected to look internally at the costly and manual processes that desperately need improvement also.

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The typical budget planning process for a utility is akin to a leaky water pipe; the wasted productivity is expected and tolerated. And, just like a leaky pipe runs the risk of becoming a big break, there is a risk of adverse financial performance if we neglect to streamline the process. So, why do we turn a blind eye to the inefficiencies of the typical planning process? It’s because most of us have a status-quo bias called loss aversion. We have a hard time making decisions that are...