Since its inception as a professional and academic field, natural resources management and governance has been influenced by many different factors including, but not limited to, prevailing economic conditions, social values, political beliefs, and technology. In addition, the field has been shaped by many different ideas and concepts which have been taken up and advocated by professional groups and have become part of the dominant paradigm for resources policy and practice during different eras. Beginning in the early 1990s, “collaboration” emerged as one of the most popular and influential ideas of the present time — to the extent that collaboration among governments, private corporations, not-for-profit organizations, civic groups, and other actors is becoming an increasingly advocated solution for water problems at a variety of spatial scales. Unfortunately, the popularity of collaboration has not been matched with scrutiny of its strengths or weaknesses. In this chapter, we critically examine the signs for a “turn” in water management and governance towards collaborative approaches and institutional arrangements, drawing on recent literature, and our own original research and practical experiences of working with collaborative institutions and groups. Our focus is on collaboration in the water sector, where this approach to governance has become particularly important.