eQuip!: an Assetworks solution

Building the Necessary Foundation for an Effective Property Management Plan — Part One

Jackie Luo

Jackie Luo is Vice President of the eQuip! Asset Management solution at Assetworks LLC. She is a subject matter expert on asset management business processes.

This is a four-part series on the property plan to manage Government Furnished Property (GFP).  In this series, we’ll address the basic requirements,  help you to understand the EAM system, the audit process, reporting standards and protocols on equipment handling.

A property plan is something every contractor should have in place in order to bid and qualify for federal government contracts.  For government contractors and subcontractors, if the contract has a property clause under FAR 52.245-1, they are required to institute a Government Property Management Plan for Government Furnished Property (GFP).The business processes behind managing GFP are outlined in a Property Plan.

What is a Property Plan?

A property plan is a high-level document outlining how an organization is going to manage the properties either owned by them or furnished by the government while they are performing a government contract. The property plan can be established at different levels of the organization, and steps should be taken to ensure that it is established at the appropriate level, whether that is the contract, program, site or entity level. Some questions you should ask yourself that will help determine at which level the plan should be implemented are:

  • Is the work being performed under this contract different than your organization’s core business?
  • Does your organization have different business area?
  • Does your organization have multiple sites?

Property Plan Outcomes for Government Property Management

The Government Property Life Cycle

A property plan for government property management should achieve 10 outcomes:

  1. Asset acquisition
  2. Receipt of assets
  3. Asset records
  4. Physical inventory
  5. Subcontract control
  6. Reports
  7. Relief of asset stewardship responsibilities
  8. Utilizing government property
  9. Maintenance
  10. Asset closeout

Taking time to write out the property plans for government property management along with the systems and procedures that will safeguard that property is a major step to battle the bandits. But what happens once it’s written?

Purpose of a Property Plan for Government Property Management

Do you put the property plan on a shelf simply to take up space?

Your property plan needs to be a fluid, working document that employees know about, have access to and understand how to implement. Leaders within the organization must have an even better understanding, allowing them to provide oversight and support to the employees implementing the plan. An Enterprise Asset Management System can bring the property plan to life.

Check back for additions to this series, in which we’ll address data security plans, understanding your EAM system, the audit process, reporting standards and protocols on equipment handling. By the time we’re done, you’ll be ready to build a comprehensive, user-friendly property plan to meet government property management standards and be able to provide clear asset acquisition and asset stewardship protocols for your employees and organization.


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