NPMA Property Management CPPS Exam

NPMA Property Management CPPS Exam Property Management - ANS The exercise of a restraining or governing influence over the acquisition , use , and disposition of personal property Property control function names - ANS Property control, Asset Management, fixed-asset accounting, inventory control, material PMO - ANS Property Management Office PMO responsibilities - ANS 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. PMO responsibilities - ANS The establishment and maintenance of a property control system Property Control System - ANS comprised of Primary difference between accountability and responsibility - ANS A Who is accountable for the property - ANS To whom are you accountable for the property Transfer of Accountability - ANS Transfers - ANS not always physical, require approval, approval record is part of historical file and audit trail Transfer between contracts - ANS both releasing and gaining agency verify accuracy Responsibility - ANS Means to be answerable for a trust or obligation -If you have a car, loaned it to someone, they dont own, but are answerable to you. (Gas, accident, etc). So it is a trust, and they are answerable. It is possible to be responsible for the property What does responsibility mean - ANS to be answerable for a trust or obligation. Effective Property Control System - ANS Provides a mechansim through whic 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 PMO primary responsibilities - ANS ensures assets are controlled, maintained, protected, preserved The control is subdivided into 15 areas of property management for all property - ANS Physical Inventory - ANS The determination of inventory quantity by actual count. Can be taken on continuous, periodic, or annual basis. Frequency of Inventory - ANS Periodic, Continuous, based on type of equipment, Utilization - ANS The making use of, the documented use of an asset in the business process, the act or Primary objective of an effective utilization management program - ANS 1) maximize the use of an asset throughout its useful life and 2) to make it available for reutilization in a timely manner