NPMA Property Management CPPS Exam Already Passed

NPMA Property Management CPPS Exam Already Passed Property Management The exercise of a restraining or governing influence over the acquisition , use , and disposition of personal property Property control function names Property control, Asset Management, fixed-asset accounting, inventory control, material PMO Property Management Office PMO responsibilities 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 The establishment and maintenance of a property control system Property Control System comprised of Primary difference between accountability and responsibility A Who is accountable for the property To whom are you accountable for the property Transfer of Accountability Transfers not always physical, require approval, approval record is part of historical file and audit trail Transfer between contracts both releasing and gaining agency verify accuracy Responsibility 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 to be answerable for a trust or obligation. Effective Property Control System 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 ensures assets are controlled, maintained, protected, preserved The control is subdivided into 15 areas of property management for all property Physical Inventory The determination of inventory quantity by actual count. Can be taken on continuous, periodic, or annual basis. Frequency of Inventory Periodic, Continuous, based on type of equipment, Utilization 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 1) maximize the use of an asset throughout its useful life and 2) to make it available for reutilization in a timely manner