Featured Contributor: Amanda Watkins
We’ve all heard the saying: “If you want something done right, you have to do it yourself.” This turn of phrase is usually preceded by a feeling of disappointment; usually someone failing to complete a task the “right” way. Here’s a wild idea: what if doing it “right” was no longer a concept you had to worry about? What if the emphasis was shifted from an individual’s, or an individual organization’s “right way,” and placed on the best practices for your industry? That is the concept behind effective property management. Implementing a property management software platform allows organizations to align themselves along one, mutually agreed upon standard – and this is the first step towards inter-agency cooperation.
Property Management Organizations (PMOs) can generally break down their responsibilities into the following categories: asset acquisition, asset identification, records, physical inventory, utilization and asset moves, reports, maintenance, and self-assessments.
Not surprisingly these responsibilities mirror the life-cycle of an asset. Accordingly, it is necessary to develop a set of inventory management best practices, which will serve to streamline the asset management process, helping to maximize the value of each organization’s resources.