Water is nature’s priceless gift that needs to be utilized judiciously because the volume of water available is finite. Even though 70% of planet Earth is covered by water, only 3% is freshwater suitable for human and living beings’ consumption, and the rest is brackish water. Water is an indispensable utility in agriculture, automotive, aviation, oil & gas, power plants, information technologies etc. Chronic water shortage arises due to surging global demand, climate change, urbanization, rising per capita consumption, and ineffective water management strategies. There is a need to utilize smart devices, adopt water conservation techniques, and conduct regular water audits to promote sustainable water practices. Water balance and model equations provide insight into water availability and demand, and suggest measures for the efficient distribution of water. Water loss due to pipe leaks, instrumentation errors, and unauthorized use can be investigated through auditing. The water governance framework is pivotal in industries for improving coordination among water-sharing stakeholders and resolving conflicts in water distribution and usage. This chapter aims to elucidate the tools and practices employed in industries for water and environmental management, with the goal of mitigating resource exploitation and pollution problems.