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Protecting Your Property Management System and Its Most Valuable Asset - YOU

Learn how to view your property management system from an expanded perspective, address management issues, and safeguard your valuable assets. Explore topics such as system protection, asset management, business continuity planning, data security, and accurate bids and budgets.

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Protecting Your Property Management System and Its Most Valuable Asset - YOU

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  1. Protecting Your Property Management System and Its Most Valuable Asset – YOU Keith C. Record

  2. Session Objectives • View your property management system and its assets from an expanded perspective. • Determine some property management issues that may need to be addressed by management.

  3. What is a System • “A regularly interacting or interdependent group of items forming a unified whole” (Merriam-Webster Dictionary) • All systems have subsystems and are part of a larger system

  4. What is a Property Management System ? • FAR 52.245-1 (b)(1) (April 2012) • The Contractor shall have a system of internal controls to manage … • The Contractor shall initiate and maintainthe processes … • P4 - People, Places, Processes, Physical items

  5. What is an Asset? • “A useful or valuable thing, person, or quality“ (Oxford Dictionary) • Financial Balance Sheet: Assets - Liabilities = Equity • “True” assets • create value or • help other assets increase or maintain their value • An asset can be a “true” asset or a liability

  6. You are the most valuable asset! • There are correlations between the human lifecycle and the ten property outcomes • You can increase your productivity • You have the ability to evaluate and plan • You can “initiate and maintain” • You can create, appreciate and add value

  7. How well is your property management system protected? For the ten property management outcomes (acquisition, receipt, records, physical inventory, subcontractor control, reports, relief of stewardship, utilization, maintenance, closeout): • Who, what, where, when and how is each performed? • What are each outcome’s possible threats? • What are your planned threat responses?

  8. Business Continuity Plan (BCP) • “All L-3 Divisions shall have a Business Continuity Plan that establishes measures to protect the Company’s employees, processes, and information.” (L-3 Corporate Policy 308) • Some BCP components are: • Risk Assessment • Emergency Action Plan • Communications Plan • Alternate Processes • IT Disaster Recovery Plan • BCP Maintenance Plan

  9. BCP Alternate Process Matrix • Each number/letter corresponds to an action step written below the matrix • Each organization/function fills out a matrix

  10. Business Continuity Plan • If there was a loss, how accurate would your inventory records be in determining exactly what was lost? • What is the replacement value of the different classes of property in your inventory? (book or market value) • Who pays for each property class loss? • Bottom line: Know what is stated in your contracts and insurance policies.

  11. A Major Threat -- Pandemic • One scenario: 30% or more of your workforce is out due to illness, death or caring for others • A pandemic would affect your company, organization, suppliers and customers • How would your company and organization handle a pandemic?

  12. BCP Alternate Process Matrix Addition

  13. How Secure is Your Data? • After a complete computer system loss, what would be the most difficult to replace – hardware, software or data? • What data safeguards and backups do you have? • What would you do if your computers crashed and no data could be recovered?

  14. How accurate are your bids and budgets? • Where are you on the org chart? • Do you charge direct hours (to a contract, program, project, grant, task order, etc)? • Who bids your hours in a proposal? • How are those hours determined? • After winning a contract, who determines the budget and spread of hours over the life of the contract?

  15. How accurate are your bids and budgets? • How do you handle a “completed” or closed contract having remaining material (with no funds left for disposition)? • Are your bid hours based on current, complete and accurate data? • Are your hours allowable and allocable under FAR and CAS (Cost Accounting Stds)? • How accurate are the bid to budget to actual charged hours?

  16. Summary • You are the most valuable asset in any property management system • Verify your company has a Business Continuity Plan (BCP) • Ensure your organization/function/property management system is included in the BCP • Keep your data secure and backed up • Have accurate bid/budged labor hours • Talk with management about any of the above concerns

  17. Questions or Comments? Please Contact:Keith C. Record, CPPMProperty AdministratorL-3 Communications(801) 594-2594Keith.C.Record@l-3com.com

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