NPMA Property Management CPPS Exam Already Passed

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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 P... roperty 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 [Show More]

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