Smart Water Management implies a substantial upgrading of Water Quality and Water Quantity Data Collection from a large number of sample points. Compared to previous analog or semi-digitalized monitoring systems, a fully digitalized Water Grid will provide a significantly improved picture. This raises a number of questions: When can we expect to have sensors capable of monitoring all water quality parameters? How many sensors will be sufficient to provide an adequate amount of data? How to compile, store and ensure quality assurance of data from many different sources? How to handle sharing of data? And, not, least how to develop software for utilizing the data for modeling, scenarios, public planning and implementation of investment projects? And how to use digitalization for Asset Management?