When you have this construct:
. . . is a key factor in the making and controlling of the water.
Should you leave only the last verb in the gerund:
. . . is a key factor in the make and controlling of the water.
You need to say "making and controlling".
What you have there is a parallel structure. A parallel structure is basically when you condense multiple sentences varying in only one item down to a single sentence with a list of the varied items:
When you form a parallel structure, all the elements in the parallel MUST be in the same grammatical form: all nouns, all gerunds, all infinitive verbs, all prepositional phrases, etc. No mixing and matching is allowed.