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New E53 Standard Covers All Aspects of Property Management Function

One of the greatest challenges facing property man-agers is ensuring that overly detailed and costly practices for the management and oversight of property assets are not adopted as representing “best practices,” reports ASTM specialists in a new standard that addresses all aspects of property management function.

Released this month, ASTM E 2279, Standard Practice for Establishing the Guiding Principles of Property Management, is the latest in Committee E53 on Property Management Systems’ successful line of new standards.

“The standard is intended to serve as the prism through which property systems will be viewed to determine if systems designs or changes are value-added,” says Stephen Michelsen, ASTM committee chairman and executive vice president of the National Property Management Association, Dunedin, Fla.

“The standard will give managers the means to examine the quality, quantity and substance of current and proposed systems and the context to determine how each element furthers efficient and cost effective operations,” he says. “No matter what business a company is in or mission is to be satisfied by a public entity, it is useful for property managers to be aware if their organization is operating within the context of what is the consensus opinion of the most efficacious framework for the conduct of property management activities.

“The fundamental principle reflected in the standard is that the degree and costs of controlling property must be commensurate with the practical consequences of a shortage or overage and the criticality of lost inventory,” he explains. “All property practitioners and their supervisors can use the standard as a gauge against which to measure proposed changes to their property management systems.”

Michelsen co-drafted the standard with Richard Culbertson, manager, Lockheed Martin Asset Management, Naval Electronics and Surveillance Systems, Surface Systems Center, Moorestown, N.J. Michelsen and Culbertson have a long associations with various public/private teams who updated sections of the Federal Acquisition Regulation Clause 45 - Government Property. They received input from property experts from the federal government (civilian and military), state and local governments, educational institutions, and industry.

“We consider the publication of this, most recent, standard to be the most significant milestone in our efforts so far,” notes Michelsen, saying the committee developed the standards in a logical order. “We started with the lexicology of the profession and then moved on to administrative control, asset valuation and inventory techniques and results. In the last several days we have submitted for committee vote a draft standard on property disposition. In essence, in our initial seven standards we have developed the performance objectives and metrics for the life-cycle management of movable and durable property assets. What has been missing was the keystone that centers the standards and defines the interrelationship of the current and future property management standards. The Standard Practice for Establishing the Guiding Principles of Property Management is the keystone and, as such, is the most important creation of our working group.”

For further technical information, contact Pat Picariello, director, Developmental Operations, ASTM International (phone: 610/832-9720). //

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