Standard Practice for Addressing and Reporting Losses of Tangible Property

Importancia y uso:

5.1 Losses of property are indicators of the effectiveness of operations. Excessive losses can indicate poor internal management and controls, policy or procedural weaknesses, or lack of compliance, any one of which can have a negative impact on profitability, mission, performance, or reputation.

5.2 Addressing and reporting losses provides indicators of needed potential action by decision makers.

5.3 Though the term equipment is used consistently throughout this practice, this process may be used for the other classes of property, for example, raw material in inventory.

5.4 This practice does not change any requirements that may be imposed through law, regulations, contract terms, and conditions.

Note 1: When this practice is submitted in response to a contract solicitation and evaluated as part of a contract award process, this practice may be deemed a representation.

Subcomité:

E53.04

Referida por:

E2452-12R19, E2279-20, E2676-09R20, E2811-24, E2132-17, E2675-22

Volúmen:

04.12

Número ICS:

91.120.01 (Protection of and in buildings in general)

Palabras clave:

damage; destruction; equipment; LDD; LDDT; loss; losses; low risk property; LTDD; reasonable cost; risk management; tangible property;