NPMA CPPS Certification

NPMA CPPS Certification Accountability - ANS means to posses and have use of the property of another with delegated duties and responsibilities, subject to penalty in case of default. Acquisition cost includes - ANS all costs associated with an item including shipping, taxes, and installation. Activity Reports - ANS provide info by which the performance of the property function is evaluated. -provide mgmt tools for monitoring the effectiveness of the processes. -early detection of a problem Ad Hoc Reports - ANS useful when impact studies are conducted in prep for business process changes. -Effective tool for responding in a timely manner to unique or new queries that use data on record but which are not addressed by an existing report. adequate authority - ANS Property must have this to define, implement, and maintain business processes that may touch every level of the org. An effective, user friendly property system provides - ANS 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 Approvals for giving and accepting orgs - ANS both must have appropriate levels of mgmt authority approval, and both contracting officers need to approve Approvals for transfers - ANS must be obtain before the transfer occurs, in writing, either within award doc, a letter, or email, and made part of the file for audit trail Benefits of an effective property function - ANS -Maximize return on investment -Facilitate compliance -Maximize reutilization -Depreciation expense Characteristics to consider when implementing the structure of a property system - ANS 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 Communication and training are - ANS the cornerstone of effective property control system Compliance refers to - ANS satisfactorily following the orgs established policies, procedures and operational guidelines. Compliance reports - ANS -specifically required by senior mgmt within the org, or by sponsor -or in response to regulatory requirements (legislative activity) -NOT optional confusion results when accountability rests above the department level. This is still sometimes called interdepartment transfer, but - ANS it is a transfer of responsibility, not accountability Data Summary Reports for Tax Purposes - ANS Detailed property records which provide audit-able back-up for depreciation expense, an important component of cost used in reporting federal and state taxes. In addition, aid assessors in determining property taxes based on where assets are located. Delivery Method: Classroom - ANS Target Audience -Data Maintenance Personnel -New Department Property Administrators Types of Info -Online System Use -New Systems Implementation -Policy and procedure Delivery Method: Email, Org News Publication - ANS Audience -Online system users Department property administrators Property Custodian Network Key Stakeholders Program PM Types of Info General Announcements Special Notifications Draft docs for review Property awareness Delivery method: Focus groups, open forums, advisory groups - ANS Audience Asset User Teams Special Project Teams Mgmt reps property support network Types of info Info exchange for process improvement best practices Delivery method: Group Presentation - ANS Target Audience -Sr Mgmt, trustees, regents, -Property Staff Asset Users New Employees Key Stakeholders Type of Info Reports Prospective Process Changes Special Project Results Progress of Key Processes Delivery Method: Online Tutorials - ANS Audience Asset Users Department Property Administrators New Employees Types of Info process skill cert online system use completing forms Determination for what needs to be controlled is determined by - ANS business, regulatory and contract agreement needs Duties, responsibilities, and potential penalties should be - ANS documented in a formal agreement between the provider and the recipient (contract, grant) either owned by the org or is provided by a sponsor under some kind of agreement (sponsor has ownership). - ANS Property is either owned by or provided. Examples of visual aids are - ANS Use guides Tutorials Quick reference cards Intranet web sites HTML files Exception reports - ANS identifies errors and omissions in data that must be manually monitored and corrected. Financial Reports - ANS -these may include depreciation reports -quarterly financial activity reports -year end reconciliation reports -inventory reports for communication to be effective - ANS you need to identify the target audience and define what info they must receive Generating reports is - ANS one of the most important and frequently used means by which info about property location, volume, and utilization is communicated. If org contracts with the government, property manager must - ANS have a working relationship with all sponsor reps Individualized sessions - ANS Audience New or temp employees Departing employees individuals with special needs Types of Info Training for specific tasks Transfer of property custody Interdepartmental transfer occurs when - ANS property and accountability shift from one org to another Interdepartmental transfers - ANS These occur routinely within orgs, usually result of org changes, shift of work between departments, or excess assets are needed by another department It is helpful to include some level of _________ in a given subject, presenting to a wide variety of audiences, using multiple delivery methods - ANS redundancy It is the property professional job to support the property owner in - ANS making and implementing effective decisions regarding the property It is through records that - ANS the existence of all property under the jurisdiction of the PMO is established and verified. Its usually through external compliance requirements and persistent communication about the impact of effective property control that - ANS adequate visibility and management support are attained Key distinction from property professionals standpoint (on accountability and responsibility) is that - ANS one is accountable to someone for the property, and is responsible for certain actions such as maintenance or storage Key elements of property accountability - ANS provider, recipient, specific duties and responsibilities, and penalties in case of default Key factors in deciding which property structure model to use - ANS - 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 - ANS CFO, Controller, PM, PMO, Directors, Departmental property administrator, prop custodian, asset (end) users, physical inventory group Lack of training is - ANS the primary causative factor when government auditors find an org liable for the loss, damage, or destruction of sponsor assets. -considered a demonstration of willful misconduct and lack of good faith Level of formality and details of policies, procedures and operational guidelines is dependent on - ANS the size and complexity of the org. Loss, Damage and Destruction LDD Reports - ANS address specific incidents that must be reported to the legal authorities, risk mgmt and or sponsors Most effective org placement of property mgmt is - ANS within the financial management or accounting function Most overlooked part of training - ANS documentation - text and visual aids Enhances learning, more enjoyable Normally, the responsibility will remain with who - ANS a department head, manager or custodian. OPP defines who is responisible Org structure within property directly impacts - ANS their ability to conduction every business while providing the service and support that property must offer its internal and external customers Org Structure within the property function refers to - ANS how the staff is organized and how their respective responsibilities are delineated. Organizational placements and Structure of the property function - ANS varies for org to org Ownership - ANS Having legal or rightful title to property Ownership of property allows the owner to - ANS make any and all decisions regarding the property PMO has the responsibility of - ANS ensuring an effective property control system is established and maintained. Potential consequences of non-compliance include - ANS Increased serveillance and potentials findings by internal/external auditors -The need to implement and monitor corrective action plans -Increased liability and financial risk -increased insurance costs -damaged credibility with customers -Increased borrowing costs primary drivers behind need for property function include - ANS fiscal responsibility and stewardship, and investment and resource mgmt, and compliance with org needs and external requirements Property Control System is comprised of - ANS Property Management Personnel, processes, and mgmt info. systems (MIS). (Written policies, procedures, operational guidelines, and related records, and MIS that facilitates these functions). Property Control System must - ANS incorporate methods of safeguarding physical assets of an org, periodically verify their existence, status and condition of the property, and ensure accuracy of records enable participants in process to comply with internal rules, and fed state and local regs, and provide audit trail Property Control Variety of Names - ANS Property Accounting, Fixed Asset Accounting, Inventory Control, Material, Property Control, Asset Management. Property function is responsible for establishing: - ANS 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 Property Management - ANS The exercise of a retaining or governing influence over the acquisition, use, and disposition of personal property Property Management Office PMO - ANS Department within an org that is responsible for controlling or managing property Property Manager - ANS PMO is headed by Property Manager is responsible for: - ANS establishing, guiding, managing, and maintaining an efficient property system, communicating effectively with other departments and functions, and developing and presenting training in property related subjects Property Records are - ANS the foundation of the property control database. Property records are updated - ANS during the entire life cycle of property items according to the record keeping requirements for each type of property and the orgs policies and procedures. Records - ANS is crucial to the entire process. Reports are a tool for - ANS verifying and measuring compliance with established standards, identifying trends in system performance, exposing potential areas of concern, and highlighting exceptional levels of compliance. The effects of implementing changes to processes can be understood and evaluated Responsibility - ANS means to be answerable for a trust or obligation. Less formal than accountability System monitoring reports - ANS monitor the behind the scenes database fucntions essential for an online system to work. -include verification of successful periodic data feeds or interfaces with other systems, evaluation of user access to systems and notification of system errors The level of complexity of the processes is driven by - ANS the needs of the org, with steps within each process being determined by the structure of the responsible business unit. Those accountable - ANS do not have legal or rightful title to the property To increase compliance - ANS the unit best suited to the task should be made responsible for the performance of steps in the process transfer doc must include - ANS date of transfer, the purpose of the transfer, description of property, contract numbers Transfer of accountability - ANS When accountability shifts from one entity to another.... may or may not include physical relocation of assets, but will always include a change in accountability for the property Two key questions when determining the control population of property - ANS What will be controlled, to what level of detail will it be controlled? Usually necessary to retain all purchase documentation for - ANS for the life of the asset Utilization/Reutilization reports - ANS measures how effectively the org is using and re-using its assets visibility and management support - ANS 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 Web based systems - ANS Audience All Property Users Data Maintenance Personnel Key Stakeholders Auditors Types of Info Policies Procedures, operational guidelines forms user tools When presenting training to an audience, property must - ANS -identify the info needed by the group, determine the appropriate level of detail, and select the best method to present the info While accountability includes responsibility - ANS Responsibility does not include accountability Who is accountable to who for property? - ANS Contractor is accountable to government. If gov. provides funding to acquire the property, NASA is accountable to government.