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Strategic asset management of urban water infrastructures jointly deals with assets of diverse nature, useful life, cost, age and condition. Service sustainability requires a sound long-term planning, which needs assessing, among other aspects: the value of the infrastructure over time; the need for reinvestments; the impact of long-term re-investment policies. The infrastructure value index (IVI) was proven to be a powerful modelling tool for combined long-term planning of linear and vertical assets. An open-source software enables IVI assessment for both asset-by-asset detailed inventory and for simplified cohort-based infrastructure description. This paper presents the formulation, discusses the underlying assumptions and applicability, and illustrates its use for strategic planning