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NPMA CPPS Certification Exam with Verified Answers| 100% Correct| Grade A+
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NPMA CPPS Certification Exam with Verified Answers| 100% Correct| Grade A+
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NPMA CPPS Certification Exam with VerifiedAnswers| 100% Correct| Grade A+
The level of complexity of the processes is driven by - ✔✔the needs of the org, with steps within
each process being determined by the structure of the responsible business unit.
Organizational placements and Structure of the property function - ✔✔varies for org to org
Most effective org placement of property mgmt is - ✔✔within the financial management or
accounting function
adequate authority - ✔✔Property must have this to define, implement, and maintain business
processes that may touch every level of the org.
visibility and management support - ✔✔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
Its usually through external compliance requirements and persistent communication about the impact of
effective property control that - ✔✔adequate visibility and management support are attained
Org Structure within the property function refers to - ✔✔how the staff is organized and how
their respective responsibilities are delineated.
Org structure within property directly impacts - ✔✔their ability to conduction every business while
providing the service and support that property must offer its internal and external customers
Characteristics to consider when implementing the structure of a property system - ✔✔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
Key factors in deciding which property structure model to use - ✔✔- 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 - ✔✔CFO, Controller, PM, PMO, Directors,
Departmental property administrator, prop custodian, asset (end) users, physical inventory group
PMO has the responsibility of - ✔✔ensuring an effective property control system is established and
maintained.
Records - ✔✔is crucial to the entire process.
It is through records that - ✔✔the existence of all property under the jurisdiction of the PMO
is established and verified.
Property records are updated - ✔✔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.
Usually necessary to retain all purchase documentation for - ✔✔for the life of the asset
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