Fresh water is a vital resource for the survival of our population. In countries like Bangladesh where clean water is scarce, overusing or wasting water limits the availability of it for other communities to use for drinking, cleaning, cooking or growing and thus contributes to disease, illness, or agricultural scarcity/starvation. In relation to this the key concern is to develop an efficient, cost effective and real-time system that can ensure the quality and usage of water. This study carried out a longitudinal study to identify the current systems of storage water management, its deficiencies. Then derive the requirements for an automated and real-time water management system that will monitor the water usage, wastage, quality and management in real-time. The designed system will be self regulating and would control the process in semi-automated fashion.