All over the world water mains are under increasing threat due to aging, aggressive environmental factors, operational factors and inadequate maintenance. Extensive maintenance, repair and rehabilitation practices, or replacement of water mains are required to ensure an acceptable performance of water supply systems. Investment deficit for water system maintenance and rehabilitation has been estimated in billions. Small to medium sized water utilities are generally impacted more because of limited financial resources and lack of technical expertise. However, water mains integrity is of primary interest due to potential adverse consequences related to public health, safety, and heavy financial liabilities in case of a failure. This paper presents a user-friendly decision support tool to help managers of these water utilities to prioritize maintenance, repair, and replacement (M/R/R) strategies for water mains. This paper proposes a risk index approach which aggregates the water mains vulnerability and associated failure consequences. The developed tool can help decision-makers to rank the water mains and help to prioritize M/R/R strategies. The results have been integrated with a geographic information system that will allow a decision-maker to visualize the vulnerable zones within the network. The City of Kelowna water network is used to demonstrate the proposed approach.