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An overview of property management, including the responsibilities of a property management office (pmo), the key components of an effective property control system, and the concepts of accountability and responsibility. It covers topics such as physical inventory, asset utilization, and the transfer of accountability. The document highlights the importance of establishing and maintaining a robust property management system to ensure efficient acquisition, management, and disposal of organizational assets. The detailed information presented can be valuable for students, professionals, and organizations seeking to understand and implement effective property management practices.
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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