A co-governance program for five waters (CPFW), including sewage treatment, flood prevention, drainage, water supply and saving, is an innovative concept in water resource management. It includes current and near future system projects and advanced management policies for water utilization and protection. In this paper, the scientific connotation of CPFW is explained by multidisciplinary theory. Based on current guidance and technology, evaluation targets and water management countermeasures are specified. Combining hydraulic engineering and their characteristics, operable approaches for CPFW are suggested for projects' designation and construction. These approaches of CPFW are applied in a typical area. Systematic projects are composed of sewage interception projects, efficient water supply projects and hydraulic projects with ecological engineering. With the guidance of CPFW, all projects are connected together and their integrated benefits are evaluated in water saving, sewage drainage, increase in environmental capacity and ensuring security. The results show the CPFW is valuable and available both in theory and in practice.