The paper presents the ex-post evaluation of a project that a Water Utility implemented in its water distribution network. The project included installation of PRVs (Pressure Reducing Valves) and launching of a Public Awareness Campaign, in order to decelerate the pipes’ brake rates (by dividing the whole system into pressure zones); and decrease the urban water consumption. Break rate forecasting models are developed, using the Water Utility's records, in order to determine each pipe's optimum replacement time, based on the Present Value of all types of costs related to a pipe break. The results are compared to those of similar projects implemented in other networks having similar characteristics. Finally, the project is evaluated based both on its environmental and financial (money savings) impacts (through a cost-benefit analysis).