1. 2012 NPMA Fall Conference Value Through Professional Asset Management Research Administrators and Property Managers: Where do we intersect? Jennifer Cory, Director of Research Department of Pediatrics, Stanford University Csilla M. Csaplár, Department Manager Department of Geophysics, Stanford University

2. 2012 NPMA Fall Conference Value Through Professional Asset Management We should talk about… Purchasing Monitoring equipment usage and needs Managing equipment on sponsored projects Shared equipment

3. 2012 NPMA Fall Conference Value Through Professional Asset Management My department wants to purchase… Determine whether your department or institution has space for the equipment. Do we already have something similar? Which vendors do I work with to make the purchase? Research/department administrators should work with your institution’s Purchasing Department to determine whether specific vendors should be used (or not!). Tracking & Tagging Inventory management system Who is responsible for doing this at your institution?

4. 2012 NPMA Fall Conference Value Through Professional Asset Management Monitoring your institution’s assets Lab needs will change over time Lab managers working with property managers Stanford Department of Pediatrics model Inspections Are health and safety regulations being met? Is equipment in need of repair or replacement?

5. 2012 NPMA Fall Conference Value Through Professional Asset Management Equipment purchased with sponsored funding At proposal stage…. Work with property management department to determine if there are any special requirements After receipt/activation of an award… Identify ownership, reporting responsibilities Making sure equipment is tagged and recorded, including title vesting Monitoring/inventory during the life of the award

6. 2012 NPMA Fall Conference Value Through Professional Asset Management Know your sponsor’s policies Who owns the equipment? What do we have to do to manage it? National Institutes of Health Equipment can be purchased as a direct cost Title generally vests with institution Repair and maintenance is allowable, but may be an indirect charge (check your institution’s policy)

7. 2012 NPMA Fall Conference Value Through Professional Asset Management What to do when… Your PI transfers to a new institution Will the equipment move with the PI? Who holds title? How was the equipment paid for? Are there any permissions required? The project is ready for closeout Determine who owns the equipment according to the award terms Do you have to file anything with the sponsor? Do you have to record anything in your university’s property/equipment management system?

8. 2012 NPMA Fall Conference Value Through Professional Asset Management What to do when… Sponsor wants to lend you equipment Who needs to approve? Do you need a contract? Safety and compliance risks?

9. 2012 NPMA Fall Conference Value Through Professional Asset Management If the equipment stays here… What are we allowed to use the equipment for now?

10. 2012 NPMA Fall Conference Value Through Professional Asset Management Maintenance costs Many purchase contracts include maintenance for “x” years Plan for what happens next Work with Property Management Office to determine what is necessary Charging sponsored projects for maintenance Can we do this? Cost compliance

11. 2012 NPMA Fall Conference Value Through Professional Asset Management Shared equipment Could labs share a piece of equipment? Cost implications Charging sponsored projects for usage Cost compliance

12. 2012 NPMA Fall Conference Value Through Professional Asset Management Questions? Jennifer Cory Jennifer.cory@stanford.edu Csilla M. Csaplár csaplar@stanford.edu