NPMA CPPS CERTIFICATION CORRECT STUDYS
QUESTIONS AND ANSWERS SURE A+
✔✔Property Records are - ✔✔the foundation of the property control database.
✔✔An effective, user friendly property system provides - ✔✔a mechanism through
which an org can define and plan for its property needs and be able to acquire, manage
and dispose of property to meet them in a cost effective and efficient manner
✔✔primary drivers behind need for property function include - ✔✔fiscal responsibility
and stewardship, and investment and resource mgmt, and compliance with org needs
and external requirements
✔✔Property function is responsible for establishing: - ✔✔an infrastructure that will
facilitate property mgmt through the entire life cycle of an asset.
Includes developing and implementing policies, procedures, guidelines, record keeping
system, establish and communicate specific roles and responsibilities of all participants
✔✔To increase compliance - ✔✔the unit best suited to the task should be made
responsible for the performance of steps in the process
✔✔The level of complexity of the processes is driven by - ✔✔the needs of the org, with
steps within each process being determined by the structure of the responsible
business unit.
✔✔Organizational placements and Structure of the property function - ✔✔varies for org
to org
✔✔Most effective org placement of property mgmt is - ✔✔within the financial
management or accounting function
, ✔✔adequate authority - ✔✔Property must have this to define, implement, and maintain
business processes that may touch every level of the org.
✔✔visibility and management support - ✔✔It is critical that property receives this
necessary to ensure its policies, procedures, and guidelines are viewed as value added
and important to conducting everyday business
✔✔Its usually through external compliance requirements and persistent communication
about the impact of effective property control that - ✔✔adequate visibility and
management support are attained
✔✔Org Structure within the property function refers to - ✔✔how the staff is organized
and how their respective responsibilities are delineated.
✔✔Org structure within property directly impacts - ✔✔their ability to conduction every
business while providing the service and support that property must offer its internal and
external customers
✔✔Characteristics to consider when implementing the structure of a property system -
✔✔Centralized vs decentralized
Combo of central with support from decentralized network of property custodians
single individual responsibility vs fully staffed property division or department
Functional groupings within the department by business process, support to business
team, area of specialty, type of property, etc
✔✔Key factors in deciding which property structure model to use - ✔✔- Type and
volume of property managed
- Compliance requirements and risk
- current levels of compliance vs desired level of compliance
-geography of service areas
- number of and skill sets of property staff
-complexity of business processes and data mgmt systems
- financials resources
- time available to be dedicated by people who have property responsibility through the
org
✔✔Key participants in property management - ✔✔CFO, Controller, PM, PMO,
Directors, Departmental property administrator, prop custodian, asset (end) users,
physical inventory group
✔✔PMO has the responsibility of - ✔✔ensuring an effective property control system is
established and maintained.
✔✔Records - ✔✔is crucial to the entire process.
QUESTIONS AND ANSWERS SURE A+
✔✔Property Records are - ✔✔the foundation of the property control database.
✔✔An effective, user friendly property system provides - ✔✔a mechanism through
which an org can define and plan for its property needs and be able to acquire, manage
and dispose of property to meet them in a cost effective and efficient manner
✔✔primary drivers behind need for property function include - ✔✔fiscal responsibility
and stewardship, and investment and resource mgmt, and compliance with org needs
and external requirements
✔✔Property function is responsible for establishing: - ✔✔an infrastructure that will
facilitate property mgmt through the entire life cycle of an asset.
Includes developing and implementing policies, procedures, guidelines, record keeping
system, establish and communicate specific roles and responsibilities of all participants
✔✔To increase compliance - ✔✔the unit best suited to the task should be made
responsible for the performance of steps in the process
✔✔The level of complexity of the processes is driven by - ✔✔the needs of the org, with
steps within each process being determined by the structure of the responsible
business unit.
✔✔Organizational placements and Structure of the property function - ✔✔varies for org
to org
✔✔Most effective org placement of property mgmt is - ✔✔within the financial
management or accounting function
, ✔✔adequate authority - ✔✔Property must have this to define, implement, and maintain
business processes that may touch every level of the org.
✔✔visibility and management support - ✔✔It is critical that property receives this
necessary to ensure its policies, procedures, and guidelines are viewed as value added
and important to conducting everyday business
✔✔Its usually through external compliance requirements and persistent communication
about the impact of effective property control that - ✔✔adequate visibility and
management support are attained
✔✔Org Structure within the property function refers to - ✔✔how the staff is organized
and how their respective responsibilities are delineated.
✔✔Org structure within property directly impacts - ✔✔their ability to conduction every
business while providing the service and support that property must offer its internal and
external customers
✔✔Characteristics to consider when implementing the structure of a property system -
✔✔Centralized vs decentralized
Combo of central with support from decentralized network of property custodians
single individual responsibility vs fully staffed property division or department
Functional groupings within the department by business process, support to business
team, area of specialty, type of property, etc
✔✔Key factors in deciding which property structure model to use - ✔✔- Type and
volume of property managed
- Compliance requirements and risk
- current levels of compliance vs desired level of compliance
-geography of service areas
- number of and skill sets of property staff
-complexity of business processes and data mgmt systems
- financials resources
- time available to be dedicated by people who have property responsibility through the
org
✔✔Key participants in property management - ✔✔CFO, Controller, PM, PMO,
Directors, Departmental property administrator, prop custodian, asset (end) users,
physical inventory group
✔✔PMO has the responsibility of - ✔✔ensuring an effective property control system is
established and maintained.
✔✔Records - ✔✔is crucial to the entire process.
