NPMA CPPS CERTIFICATION STUDY GUIDE
Property Management - Answers - The exercise of a retaining or governing influence
over the acquisition, use, and disposition of personal property
Property Control Variety of Names - Answers - Property Accounting, Fixed Asset
Accounting, Inventory Control, Material, Property Control, Asset Management.
Property Management Office PMO - Answers - Department within an org that is
responsible for controlling or managing property
Property Manager - Answers - PMO is headed by
Property Manager is responsible for: - Answers - 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 Control System is comprised of - Answers - Property Management
Personnel, processes, and mgmt info. systems (MIS). (Written policies, procedures,
operational guidelines, and related records, and MIS that facilitates these functions).
If org contracts with the government, property manager must - Answers - have a
working relationship with all sponsor reps
Ownership - Answers - Having legal or rightful title to property
either owned by the org or is provided by a sponsor under some kind of agreement
(sponsor has ownership). - Answers - Property is either owned by or provided.
Ownership of property allows the owner to - Answers - make any and all decisions
regarding the property
It is the property professional job to support the property owner in - Answers - making
and implementing effective decisions regarding the property
Duties, responsibilities, and potential penalties should be - Answers - documented in a
formal agreement between the provider and the recipient (contract, grant)
Accountability - Answers - means to posses and have use of the property of another
with delegated duties and responsibilities, subject to penalty in case of default.
Those accountable - Answers - do not have legal or rightful title to the property
Key elements of property accountability - Answers - provider, recipient, specific duties
and responsibilities, and penalties in case of default
, Who is accountable to who for property? - Answers - Contractor is accountable to
government. If gov. provides funding to acquire the property, NASA is accountable to
government.
Transfer of accountability - Answers - 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
Approvals for giving and accepting orgs - Answers - both must have appropriate levels
of mgmt authority approval, and both contracting officers need to approve
Approvals for transfers - Answers - 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
transfer doc must include - Answers - date of transfer, the purpose of the transfer,
description of property, contract numbers
Interdepartmental transfers - Answers - These occur routinely within orgs, usually
result of org changes, shift of work between departments, or excess assets are needed
by another department
Interdepartmental transfer occurs when - Answers - property and accountability shift
from one org to another
confusion results when accountability rests above the department level. This is still
sometimes called interdepartment transfer, but - Answers - it is a transfer of
responsibility, not accountability
Responsibility - Answers - means to be answerable for a trust or obligation. Less
formal than accountability
While accountability includes responsibility - Answers - Responsibility does not include
accountability
Key distinction from property professionals standpoint (on accountability and
responsibility) is that - Answers - one is accountable to someone for the property, and
is responsible for certain actions such as maintenance or storage
Property Control System must - Answers - 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 Management - Answers - The exercise of a retaining or governing influence
over the acquisition, use, and disposition of personal property
Property Control Variety of Names - Answers - Property Accounting, Fixed Asset
Accounting, Inventory Control, Material, Property Control, Asset Management.
Property Management Office PMO - Answers - Department within an org that is
responsible for controlling or managing property
Property Manager - Answers - PMO is headed by
Property Manager is responsible for: - Answers - 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 Control System is comprised of - Answers - Property Management
Personnel, processes, and mgmt info. systems (MIS). (Written policies, procedures,
operational guidelines, and related records, and MIS that facilitates these functions).
If org contracts with the government, property manager must - Answers - have a
working relationship with all sponsor reps
Ownership - Answers - Having legal or rightful title to property
either owned by the org or is provided by a sponsor under some kind of agreement
(sponsor has ownership). - Answers - Property is either owned by or provided.
Ownership of property allows the owner to - Answers - make any and all decisions
regarding the property
It is the property professional job to support the property owner in - Answers - making
and implementing effective decisions regarding the property
Duties, responsibilities, and potential penalties should be - Answers - documented in a
formal agreement between the provider and the recipient (contract, grant)
Accountability - Answers - means to posses and have use of the property of another
with delegated duties and responsibilities, subject to penalty in case of default.
Those accountable - Answers - do not have legal or rightful title to the property
Key elements of property accountability - Answers - provider, recipient, specific duties
and responsibilities, and penalties in case of default
, Who is accountable to who for property? - Answers - Contractor is accountable to
government. If gov. provides funding to acquire the property, NASA is accountable to
government.
Transfer of accountability - Answers - 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
Approvals for giving and accepting orgs - Answers - both must have appropriate levels
of mgmt authority approval, and both contracting officers need to approve
Approvals for transfers - Answers - 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
transfer doc must include - Answers - date of transfer, the purpose of the transfer,
description of property, contract numbers
Interdepartmental transfers - Answers - These occur routinely within orgs, usually
result of org changes, shift of work between departments, or excess assets are needed
by another department
Interdepartmental transfer occurs when - Answers - property and accountability shift
from one org to another
confusion results when accountability rests above the department level. This is still
sometimes called interdepartment transfer, but - Answers - it is a transfer of
responsibility, not accountability
Responsibility - Answers - means to be answerable for a trust or obligation. Less
formal than accountability
While accountability includes responsibility - Answers - Responsibility does not include
accountability
Key distinction from property professionals standpoint (on accountability and
responsibility) is that - Answers - one is accountable to someone for the property, and
is responsible for certain actions such as maintenance or storage
Property Control System must - Answers - 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
