This paper presents an innovative IoT-based system for water level monitoring and management in dams. The system leverages the power of IoT technology to provide real-time monitoring, accurate data collection, advanced data analysis, and proactive risk mitigation strategies. The study begins with an exploration of traditional methods of water level monitoring in dams and highlights the advantages and limitations of IoT-based systems. It also examines existing IoT applications in dam management and reviews the literature on IoT-based water level monitoring systems. The methodology section outlines the system's architecture and components, the selection and deployment of water level sensors, data transmission and communication protocols, and data analysis techniques and algorithms, including the implementation of threshold-based alarms. The implementation section details the sensor installation and integration process, network setup and connectivity, data collection and storage procedures, and the implementation of the alarm system. In the results and analysis section, water level data is analyzed, comparing it with the threshold-based alarm system. The analysis includes a sample of sensor data for 10 samples, demonstrating the system's effectiveness in detecting anomalies and triggering timely alarms. The paper also discusses the implications and practical applications of the IoT-based system, emphasizing the advantages it offers for dam management and decision-making. It highlights the system's integration capabilities with existing dam management systems and its potential for predictive analytics and early warning systems. Additionally, the limitations of the implemented system are acknowledged, and opportunities for further research and enhancements are identified.