This publication shows how the three pillars of drought management: (1) monitoring; (2) vulnerability assessment; and (3) risk mitigation and response, help to integrate the management of the two phenomena. With climate change seriously affecting the water cycle in many parts of the world, it is important that stakeholders understand each of these phenomena and undertake appropriate management measures. Understanding which phenomena are being faced by a country or region can enable stakeholders to implement the appropriate monitoring and early warning systems. This publication outlines existing water management approaches and initiatives, and provides guidance on proactive integrated water management decisions in a world facing ever more pressure on water resources. These approaches include the strengthening of early alert systems, the development and implementation of risk mitigation measures, and the long-term adaptation of strategies to build societal and environmental resilience.