Improving Property Management. By Veeral Majmudar ICPM Quarterly Meeting October 25 th , 2007. A Case Study in Property Management Program Improvement. Introduction. Veeral Majmudar President, The Savan Group ( www.savangroup.com ) Management Consulting Firm (Arlington, VA)
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Improving Property Management
By Veeral Majmudar
ICPM Quarterly Meeting
October 25th, 2007
A Case Study in Property Management Program Improvement
Through my experience…
I learned property management is a critical but undervalued area
I realized there are better ways to manage assets.
I wanted to help people maximize their resources
I wanted to share my experience with others
Increased management and oversight of property assets could save hundreds of millions of dollars.
- General Accounting Office, 2004
Do you have asset visibility across systems and processes?
Do you have objective identification of compliance and performance indicators?
Do you have information forensics for auditing the supply chain?
Do you have a risk mitigation plan?
Federal Regulations dictate many of the improvements in asset management
Proper use of taxpayer dollars
President’s Management Agenda Executive Scorecards
GAO Audits of the Property Management Program has occurred at eight agencies in the last 10 years
Potential for Bad Press Coverage
Ensuring financial & physical accountability through effective operational oversight
Ensuring cost-efficient use of personal and real property through effective information sharing and training
Removing procurement duplication to avoid unnecessary spending of tax dollars
Mitigating audit risks from internal (IG) and external parties (GAO) through site reviews & audits
Lack of oversight, guidance, and accountability
Out-dated policy and procedures
Unaccounted for personal property
Insufficient training programs and materials
Inconsistent inventory reporting
Lack of uniform system applications
Lack of internal review/audit programs
I. Policy and Regulations
Establish a clear and direct policy on agency-specific personal property management in accordance with the federal regulations
II. Learning and Growth
Establish training programs to ensure all property officers are equipped to successfully implement their responsibilities
III. Information Systems
Ensure information systems support property management needs and meet federal requirements for tracking of personal property
IV. Inventory Control
Certify agency property accountability. Maintain an internal audit program that uses systemic control techniques necessary to ensure a clean audit opinion and asset accountability as required by law
Twenty-nine new or revised initiatives
Reduced management cost by 25%
Streamlined operational process
Increased proper disposal of excess inventory by 20%
Improved communication and training programs
Received public recognition from senior level Agency directors and officials
Improve your current business processes
Mitigate potential risk of audits
Improve lifecycle management of assets
Enhance training of employees and contractors
Properly utilize available technology to better management property
To establish performance standards and a contractual baseline
To provide the contractor with a basis of estimate
To communicate effectively