CPPS - Module 1, Chapter 1 Property
Management
Department within an organization that is responsible for controlling or managing
property. Responsible for establishing, guiding, managing, and maintaining an efficient
property system, communicating effectively with other departments and functions, and
developing and presenting training in subjects relating to property. - ANS-Property
Management Office (PMO)
Establishment and maintenance of a property control system. A property control system
is comprised of property management personnel, processes, and management
information system (MIS). - ANS-Responsibility of Property Management Office
Having legal or rightful title to property. - ANS-Ownership
To possess and have use of the property of another with delegated duties and
responsibilities, subject to penalty in case of default. Note those "accountable do not
have legal or rightful title to the property. Key elements of property accountability are:
• Provider
• Recipient
• Specific duties and responsibilities
• Specific penalties in case of default - ANS-Accountability
May or may not involve physical relocation of an asset. - ANS-Transfer or Accountability
To be answerable for a trust or obligation. - ANS-Responsibility
The key distinction from a property professional's standpoint is that one is accountable
to someone for the property, and is responsible for certain actions (such as
maintenance or storage) related to the property. - ANS-Responsibility vs Accountability
Comprised of written policies, procedures, operational guidelines,
and related records as well as the management information system (MIS) that facilitates
performing those functions. System must incorporate methods for safeguarding the
physical assets of an organization, for periodically verifying the existence, status and
condition of the property, and for ensuring the accuracy of related records. -
ANS-Property Control System
Management
Department within an organization that is responsible for controlling or managing
property. Responsible for establishing, guiding, managing, and maintaining an efficient
property system, communicating effectively with other departments and functions, and
developing and presenting training in subjects relating to property. - ANS-Property
Management Office (PMO)
Establishment and maintenance of a property control system. A property control system
is comprised of property management personnel, processes, and management
information system (MIS). - ANS-Responsibility of Property Management Office
Having legal or rightful title to property. - ANS-Ownership
To possess and have use of the property of another with delegated duties and
responsibilities, subject to penalty in case of default. Note those "accountable do not
have legal or rightful title to the property. Key elements of property accountability are:
• Provider
• Recipient
• Specific duties and responsibilities
• Specific penalties in case of default - ANS-Accountability
May or may not involve physical relocation of an asset. - ANS-Transfer or Accountability
To be answerable for a trust or obligation. - ANS-Responsibility
The key distinction from a property professional's standpoint is that one is accountable
to someone for the property, and is responsible for certain actions (such as
maintenance or storage) related to the property. - ANS-Responsibility vs Accountability
Comprised of written policies, procedures, operational guidelines,
and related records as well as the management information system (MIS) that facilitates
performing those functions. System must incorporate methods for safeguarding the
physical assets of an organization, for periodically verifying the existence, status and
condition of the property, and for ensuring the accuracy of related records. -
ANS-Property Control System
