AbstractWell rehabilitation and replacement are critical functions and activities where water utilities can benefit from rational decision‐support frameworks and tools that enable them to navigate the complex range of technical, managerial, financial, and public/environmental health considerations involved. Based on this industry viewpoint and need, a 15‐variable risk‐based prioritization framework and methodology patterned after the ANSI/AWWA J100 Risk and Resilience Management Standard was therefore developed and tested on a relatively large water system in California. The framework draws from a wide range of information sources and analytical approaches, including existing drinking water source assessments, public documents concerning the health of groundwater basins and aquifers, the results of recently conducted climate change studies, and water distribution modeling to balance the three principal dimensions of the J100 methodology (threat, vulnerability, and consequence). The new tool is expected to help optimize routine monitoring and inspections, as well as enhance the scheduling and implementation of rehabilitation and replacement activities through the deeper and more holistic understanding it provides around regional, site and facility, and water distribution operational and systems engineering factors.