Guest Contributor: Amanda Watkins Winding down this series on property management standards, we’ll again address three new standards in this blog entry. This week’s topics will be: Moveable Property Storage, Management of Low Risk Property and Uniform Data Management in Asset Management Records Systems.
Guest Contributor: Amanda Watkins Let’s start off by addressing a change: the Standard Practice for Calculation of Equipment Movement Velocity (EMV) is now being revised to “Standard Practice for Calculation of Asset Movement Velocity (AMV)." It is generally accepted that the AMV is a measure of calculating how frequently assets are moving in, out of, and around an organization. If an asset is primarily stationary, it will have a smaller AMV than an asset that moves frequently. Tracking and calculating the AMV of assets enables property managers to make comparative insights to the operational aspects of their fixed and mobile asset inventory. Knowing the frequency of acquisitions, dispositions, and moves in a facility can greatly improve ROI, productivity, and the bottom line.
Guest Contributor: Amanda Watkins The Equipment Management Process Maturity (EMPM) standard covers the processes for both internal and external equipment management. The EMPM model does include all aspects of equipment management and was created for all equipment-holding companies however, it is worth noting that the EMPM may not be the only acceptable assessment model available.