English: Rand Water has contracted University of South Africa (UNISA) to develop a monetary valuation method for its open spaces and its inherent ecological functions. This article begins by reviewing existing contemporary definitions for open space in South Africa and then identifies the key characteristics thereof. Open Spaces in the Gauteng urban environment is in a crisis and factors such as open space coverage standards, sale of open space, crime and the impact of the apartheid legacy are briefly examined. Rand Water’s open space contributes to the total open space stock of Gauteng province. Any shortage of open space and threats to the sustainable management and expansion of the open space network of the province therefore has a direct bearing on how Rand Water views and manages its open space resources. Environmental resource economics provides economists and environmentalists with various instruments to place a monetary value on the environment. The available valuation instruments are briefly reviewed and questionnaires are developed from this to determine whether it can be applied by Rand Water staff to obtain values at a minimal cost, in a short space of time, and whether it assesses the various use and non-use values.