NPMA Certification - Work Experience Summary

ACQUISITION: 1) The act of acquiring. 2) Acquisition by contract with appropriated funds of supplies or services through purchase or lease, whether the supplies or services are already in existence or must be created, developed, demonstrated and evaluated
AUDITS: An official examination and verification of accounts
CONSUMPTION: Process of incorporating material into an end item or otherwise using it in the performance of a documented business objective. The measurement of actual use of consumable items against planned use
CONTRACTS AND AGREEMENTS CLOSURE: Disposal of all property and the zeroing out of all property records on a contract
CONTROL: 1) OWNERSHIP, 2) RESPONSIBILITY AND 3) ACCOUNTABILITY: 1) one who has the legal or rightful title to property. 2) having responsibility for actions related to property such as maintenance, control and record keeping. More general that Accountability, this is tied to being accountable to someone else for property. 3) to possess and have use of the property of another with delegated duties and responsibilities, subject to penalty in the case of default
DISPOSITION AND RETIREMENT: Action taken to physically transfer property from one’s accountability
ENVIRONMENTAL CONSIDERATIONS: Sum of all external conditions affecting the life, development and survival of an organism. Generally interpreted as including navigable waters, surface water, ground water, drinking water supplies, land surfaces, subsurface strata and ambient air
IDENTIFICATION: Physical marking of property or in some cases its container. To provide the means by which one or more of the following can be ascertained: ownership, classification, part, serial, contract or unique organization designation
MAINTENANCE: Upkeep of property or equipment; to keep in an existing state; preserve from failure or decline
MOVEMENT AND TRANSFERS: Relocation from one area to another, such as from building to building or moved to an employee’s home and property ownership remains with the organization. When changing the accountability of equipment between departments, it is still considered movement, whether the asset physically moves or not. TRANSFER – Approved and documented shift in accountability for property from one entity to another
PHYSICAL INVENTORY: Determination of inventory quantity by actual count. Physical inventories can be taken on a continuous, periodic and annual basis
PROPERTY ACCOUNTING: Codified set of processes for maintaining financial records for business transactions
RECEIVING: 1) The process of equipment or materials being accepted into an organization or facility. 2) The point at which an organization’s obligation, liability and accountability begin
RECORDS: Data providing pertinent information regarding a specific subject, such as property. Records including information reflecting the status of property
REPORTING: A statement of facts or figures ascertained by investigation, an account or accounting
REQUIREMENTS PLANNING: Identifying needs for assets and materials throughout the planning process. May also refer to identifying needs for a property or asset management system to help meet organizational goals and objectives
RISK MANAGEMENT: The practice of protecting an organization from financial harm by identifying, analyzing and controlling risk at the lowest possible cost. It has increasingly come to include aggressively managing risks to maximize an organization’s ability to profit from opportunities and increase its efficiency
SCREENING AND EXCESSING: To review or compare property on hand against a known or anticipated requirement
STORAGE, WAREHOUSING AND INVENTORY MANAGEMENT: Activities related to receiving, storing and shipping materials to and from production or distribution locations
UTILIZATION: Documented use of material or an asset in the business process compared to the planned use
VALUATION: The act of estimating the value or worth; appraisal; evaluation; as the just valuation of property

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