We present an instantaneous-normal-mode analysis of liquid water at ro
om temperature based on a computer simulated set of liquid configurati
ons and we compare the results to analogous inherent-structure calcula
tions. The separate translational and rotational contributions to each
instantaneous normal mode are first obtained by computing the appropr
iate projectors from the eigenvectors. The extent of localization of t
he different kinds of modes is then quantified with the aid of the inv
erse participation ratio-roughly the reciprocal of the number of degre
es of freedom involved in each mode. The instantaneous normal modes al
so carry along with them an implicit picture of how the topography of
the potential surface changes as one moves from point to point in the
very-high dimensional configuration space of a liquid. To help us unde
rstand this topography, we use the instantaneous normal modes to compu
te the predicted heights and locations of the nearest extrema of the p
otential. The net result is that in liquid water, at least, it is the
low frequency modes that seem to reflect the largest-scale structural
transitions. The detailed dynamics of such transitions are probably ou
tside of the instantaneous-normal-mode formalism, but we do find that
short-time dynamical quantities, such as the angular velocity autocorr
elation functions, are described extraordinarily well by the instantan
eous modes.