Article discusses how business majors can contribute to the bottom line in the hi-tech industries.

1. This arride is written to encourage all ment on the technical merits of radio fre­
T here is a misconception among some
quency idemif'ication tags (RFlD)!?!quot;
property professionals to aggressively
property professionals that not hav­
embrace technological change, to readily Good question - and a tough challenge.
ing technical backgrounds makes us
admit our own incompetence when it Yet, as we continue to learn at regional and
incapable of managing technological trans­
national education seminars (NES), we
comes to understanding technology, and to
formation within our companies. To the
leverage that incompetence in order to cannot shy away from technological change
contrary, we can be very effective at facili­
simply hecause we are business administra­
serve as better property managers.
tating change.
tors. Corporate enterprise thinking
Why should a property
We may not be scientists or engineers;
demands we integrate with all business sys­
nonetheless, we can and should collaborate
professional be concerned with tems within our organizations, and here is
with those competent in technology. We
where we can lead mission success.
technology?
should also collaborate with our business
Our individual careers depend on our
We often hear this from our property
colleagues. The key is to adopt an honest
being aggressive in learning as much as we
colleagues. quot;We are on the business side of
attitude about what we do and do not
can about technology~ We have heard the
the company. We deal with compliance and
understand, then partner with subject mat­
argument before, and it is worth repeating
accounting principles. I can't even down­
ter expen:s who do understand. If we do
here, especially for those new ro the proper­
load songs from the internet, let alone
this correctly, we will not only enable cor­
ty management profession.
explain how the internet works! How the
porate performance, we can lead it.
At the June NES Raam Vichare and
heck am I supposed to brief senior manage­
18 PROPERTY PROFESSIONAL Volume 19 Issue 3

2. Wesley Carrer made a compelling presenra­ SOX is not just a legal issue - it becomes tions. A competent person masterS the
tion on staying competitive when manag­ an issue of the financial health of rhe product, process, or service. An incompe­
organization. 4 Company executives need
ing our careers. Among their ideas, they tent person, on the other hand, does not
assert we should take it upon ourselves to confidence in the accuracy of their balance understand a specific technology
It goes without sayingG that competence
mentor junior colleagues in the workplace. sheets.
These newcomers from younger genera­ does not just apply to technology. Among
But, I don't know nothing about
tions are the know it ails. Though they our fellow asset managers, we are at various
technology!
might lack in business experience, they can stages of property management compe­
help us overcome our out-of-date technical Technology is essential for property tence. For example, we might understand
knowledge. I managers. Few of us, howevet, enteted our the process of asset c;apitalization and
I have personal experience with chis. adult careers expecting to accounr for mil­ depreciation (competent), bur not under­
lions, possibly billions of dollars of publicly
Having recently teturned to graduate stand the process of asset re-utilization
schoo!' I am surrounded by students half or ptivately-owned high-tech assets. We are (incompetent). We might have experience
my age. During a statistics lecture, I was surrounded by expensive pieces of machin­ with the old federal regulations (compe­
ery, and we have cutting-edge tools to track
having trouble plotting data on my gr-aph­ tent), but have little sense of the new guide­
them: digital communications, unique
ing calculator. A young nun in his twenties lines (incompetent).
saw my plight and offered, ''elude, I can identification (UID), and global position­ When it comes to technology, I for one
help you with thar.quot; I quickly learned how ing satellite systems (CPS), to name a few. am very aware of how little I know. For
Our property management work is
imporrant it is to partner with the younger example, when managing the reutilization
always challenging. Add to that the idea
generation! A simple example, but you get process at a science and engineering labora­
that some of us feel incompetent when
the poinr. tory. I encountered asset items called mass
managing technology assets or we feel our
We discover through NPMA that tech­ spectrometers. What is a mass spectrome­
of our league when using innovative tech­
nology is transforming properry manage­ ter!?!
nology systems to demonstrate accoun tabil­ Not surprisingly, I couldn't tell you
ment in profound ways. Brian Thompson
where the power switch is on a m;L~S spec­
of the Los Angeles Chapter states in a ity. Can we incompetents succeed in the
recent edition of the Property Proje.Sional: ever-changing cotporate world bombarded trometer, let alone how it is developed or
used. Acknowledging this, I wouldn't dare
constantly by new gadgets and gizmos?
The constant evolution of property
Absolutely we can!
managemenr technology has made cenrral­ try to operate a spectrometer and I would
Once we property managers know what
ized property operations possible in real­ be a fool to try explaining the process of
time worldwide environments, with com­ technology is and how we relate to it, we spectral analysis.? When it comes to spec­
plete visibiliry for all authorized personnel, can better affect our company's business trometers and spectral analysis, I know
subconrtactors and business partners. 2 success even if we starr out as incompe­ what I do not know.
Here, Thompson reminds us of the tents. To demonstrate how to leverage our W.S. Howell writes about people like
incompetence, let me first offer some defi­
imponance of enterprise thinking and of me in his book The Empathetic Communi­
nitions of terms as I use them in this arti­
the larger business case for aggressively cator. 8 He describes being aware of some­
cle; these terms and concepts come to me
embracing technology and integrating thing as quot;consciousquot; and unaware as
from Professor Steven Walsh who special­
administrative operations. quot;unconscious.quot; Outlining the following
izes in technological change in business. 5
It is also imporranr to remember that terms:
Simply stated, technology is stuff that
property managers can influence a corpora­ unconscious v. conscious
tion's financial bottom line and senior man­ helps us get things done. It can be a prod­ incompetent v. competent
uct such as a tool, software code, or an inte­
agemen t 's abili ty to execu te fid uciary Howell describes people in the work­
responsibilities. In the most recent Proper­ gration of syStems. A hammer, a bicycle, a place using the following combinations:
ty ProftJSional, Brian Kester connects the microprocessor, or a mass spectrometer unconscious incompetent
role of asset tracking technologies and a each represents a technolob'Y product. conscious incompetent
Technology can also be a process - a
company's compliance with Satbanes-Oxley unconscious competent
Act of2002 (SOX): method of operation. Examples might be conscious competent
the process for extracting coal from the
Technology can improve an organiza­ Therefore, knowing that I do nor know
tion's readiness for SOX 404 (quality/inter­ ground or the process for creating magnetic spectral analysis makes me a conscious
nal control) and SOX 409 (timeliness) in fields. incompetent.
In addition to products and processes,
rhe critical areas of business process control,
What's so great about
technology can be a service such as vehicle
financial reporting inregration, audit trail
Incompetence!? !
and security. 3 diagnostics, systems analysis, or health care.
I am not saying it is good to be incom­
The simplicity or complexity of technology
According to Kester, judicious use of
is determined by the number of compo­ petent. It is essential, however, that we pro­
technology in asset control helps a compa­
nents in the product or the steps in the
ny mitigate the risk of material audit find­ fessionals are aware of our various incompe­
process. tences. Acknowledging what we do not
lIlgS.
Technological competence is defined as know is an imporrant step in our careers ­
As Kester suggests, when assets repre­
an understanding of the technology, its we know that our ability is limited and thac
sent up to 50% of the balance sheet in
design and deveiopmelH, and its applica­ we cannot succeed without collaborating
manufacturing industries, compliance with
Volume 19 Issue 3 PROPERTY PROFESSIONAL 19

3. with and learning from others. 9
Some business cultures view admitting
limitations to be a sign of weakness. [
believe just the opposite, and [ am not
alone. It is commonly accepted that we can
learn and eventually achieve competence in
the field of our choosing - this takes effort
and some humility along the way.
According to Howel1, we begin our
careers as unconscious incompetents. Bliss­
ful ignoranr. our confidence sometimes
exceeds our abiJiry. Many of us in properry
scious incompetence is an acceptable stage,
management starr this way. Not only do we unable to teach others how to hit. It came
it is the least acceptable for those directly so nat:ural to him that he could not explain
have trouble undersranding rhe basics of
involved with a product, process, or service. his technique - unconscious comperence.
property managemenr, we have no. idea of
Our ultimate goal should be to achieve Eventually Williams reflected on his
the scope of the field. For example, ve
conscious competence. To be at a point lifetime of srudy, worked with a profession­
understand quickly that asset accountability
where we know what we are good at and
is knowing where the Huff is, bllt we might al writer, and produced a comprehensive
manual on the baseball swing entitled, The
put that skilJ to good business use. Con­
not yet realize property managemen t is
scious competents make the best leaders
appreciably connected to a company's Science ofHitting.
because they also have the unique ability to In the first chapter Williams presents
finances and to management's credibility.
explain and share their knowledge. J3 Not his readership with a powerful opening
Our incompetence is nothing to be
everyone can do this, despite their talent, statement, quot;Hitting a baseball - I've said it
ashamed of, but we should not sit idle in
this condition. In other words, it is impera­ brilliance, or capabilities. a thousand times - is the single most diffi­
cult thing to do in sporr.quot;15
tive that unconscious incompetents take a
Be Mindful of the Unconscious A permanently unconscious competenr
proactive stand and accept as many job
Competent would stop at that point, but Williams
assignments as possible that challenge our
Looking back at Howell's terms, you
knowledge base. During this time of pro­ decided to partner with a skilled writer and
can see one combination remains: the
fessional growth we should be followers, produced his manual with helpful descrip­
unconscious competent. This is the person tions, drawings, and diagrams that have
members of teams. and assistants to leaders,
who has a solid knowledge base and is
rather than be assigned to positions of lead­ been studied by aspiring ball players for
skilled at performing tasks, bllt might not generations. His book demonstrates
ership.
be able to join forces with others. This per­
Professor Walsh stresses thaI' uncon­ growth to conscious competence.
son cannot describe what they know or
scious incompetents should not: manage. [
leveraging What We Do Not
how to do what they do.
agree. They should be managed by others.
Know
This happens in all kinds of work envi­
And, they definitely should not have direct
Okay, now you know what I mean by
ronments: administrative, technical, aca­
oversight of technology. 10
demic, and athletic. We encounter these technology and incompetence. Let's put all
Eyes on the Prize folks occasionally. Ever reponed to some­ this to work for ourselves as property pro­
Once we have some work experience one like this? fessionals.
and training, we transition to the conscious Remember that spectrometet I men­
Don't get me wrong: unconscious com­
incom petent stage. I I These are property petents are extremely valuable as individual tioned before? It represents a technology
professionals who realize what they do not contributors, but they are not good men­ product. and I have no due how to operate
know, and if they are smarr, they can lever­ this machine, but I have to track it and
tors.
age this to their benefit. For example, once This condition does not have to be per­ provide my company the means to account
they get th rough an invenrory cycle and manent, however. Competent people can for it.
have watched the leaders, they can learn become great mentors, and Dr. Walsh uses As a property professional, I do know
from their mentors and from their own the baseball player Ted Williams to illus­ that mass spectrometers can be sensitive
mistakes. ttate. assets (high risk and export controlled), At
Professor Walsh comments on Howell's inventory time, I have an extremely low
Considered one of the best hitters in
various combinations and proposes that the baseball, Williams studied rhe baseball tolerance for shon'age or shrinkage of such
conscious incompetent stage is an accept­ swing for years and was a master at it. (In an Item.
able stage to be at for managers or execu­ 2002, ESPN titled Williams' obituary, To ensure my stakeholders that my
tives of large organizations with complex quot;There goes the greatest hitter who ever company has adequate control of spectrom­
business and technology systems. Since it lived.quot;) To be sure, Williams was the last eters, I need to design an inventory plan
is impossible to master each function, the major league player to hit .400 for an entire that demonstrates proper stewardship and
effective managet or executive knows their season. 14 In other words, Williams was does so without creating financial burden
limitations and relies on the support of competent. in the process. 16 In other words, my inven­
competent staff. 12 Early in his career, though, he was tory needs to be effective. Senior manage­
Dr. Walsh clarifies that although con­
20 PROPERTY PROFESSIONAL Volume 19 Issue 3

4. Evaluating Property Management
menr requires financial credibiliry - proper Tt is importanr to leverage what you do
stewardship of corporatc assctS - with a not know and collaborate with colleagues
Software -Invite the quot;Know it Ailsquot;
good return on investment. who have complementary technological
When assessing technology products for
Here is where another kind of rechnoJo­ and busi ness comperencies. In doing so,
tracking assets such as enhanced computcr
gy comes in, The technology available to you can lead corporate change. 0
software, 1 know I have to partner wi th
me would be the process of statistical analy­ DAVID M. DE POLO, MA, CPPM, Duke
SMEs to evaluate systems on the market.
sis. Statistical sampling is an extremely effi­ City Chapter, worked for nine years in
In his Property Proftssiona! artide, Mike
cienr and reliable tool for asset accountabil­ property management at Sandia National
Russell insists that. quot;staying competitive
ity. as presented in the ASTM property Laboratories, serving five as Property Pro­
requircs continual change in how you
standard E2132-0 t. However, I am not a gram Manager. Before leaving Sandia, he
approach your business, processes and the
managed the Executive Resources group
statistician and am therefore incompetent
roo Is used during the life cycle of your pro­ for two years. Currently he is a private
in developing statistical algorithms. Being
grams.quot;IS business consultant and an MBA candi ­
conscious of my incompetence, I should
We all know that an effective enrerprise date at the Anderson School of Manage ­
partner with a subject matter expert (SME)
system inregrates inventory with purchas­ ment at the University of New Mexico.
such as a mathematician or a risk analyst.
ing, disrriburion, capital accounting, dispo­ He can be reached at david@greatcom­
When I was properry manager at a
munications.org
sition, and other corporare functions. Each
national laboratory, with $1.2 billion in
of these areas is specialized and compliance 1 Raam Vichare and Wesley Carter, Career Manage ­
trackable assets, I was fortunate ro have
oriented. ment, presented at the June 2007 NPMA NES
access to an enrire department of statisti­ 2 Brian Thompson, Lessons Learned in Selecting a
Fortunately, we do not need to have Property Management Software Solution, Property
cians. These SMEs consistenrly demon­
mastery of all these functions to make Professional, Vol. 18, Issue 3, National Property
strate competencc with statistical analysis Management Association, p. 23
valuc-added decisions. As long as I admit 3 Brian Kester, Sarbanes-Oxley Simplified: Remove
when they assess the reliability of weapon
my limi tations, then seek the support of Material Weaknesses in Inventory & Asset Control.
components. Property Professional, Vol. 18, Issue 6, National
competent colleagucs. 1 can facilitate a Property Management Association, p. 8
I figured, if they can do that with com­
proper review of asset tracking software. 4 Kester
plex weapons systems, I know they can help S Steven T. Walsh is Associate Professor and Director
And 1'0 that end, Brian Thompson of the Technological Entrepreneurship Program at
me prove the reliability of my annual
encourages property managers to form the Anderson Schools of Management, University
inventory results. of New Mexico, Albuquerque, NM 87131. He
Inregrared Project Teams (IPTs) when eval­ holds a Ph.D. from Rensselaer Polytechnic insti­
Your own company probably has statis­
uati ng and selecting technology systcms tute. This material is from Dr. Walsh's course enti ­
ticians or mathematicians available as well. tled Management S11 - Technology Commercial­
and their architectures: ization and the Global Environment
If not, people with skills in statistics can be
The optimal selecrion process will 6 But I will anyway!
found in various business organizations 7 An entire world of engineers breathes a collective
involve as many pertinent business units sigh of relief!
such as marketing or finance.
and representatives in the organization as 8 W. S. Howell, The Empathic Communicator. Bel·
Colleges and universities certainly have mont, CA, Wadsworth Pub. Co .• 1982
possible in order to identify a solurion that 9 Regional and national education seminars offer fan­
marhemaricians available - you might com­
best fulfills the requirements of the project. tastic learning opportunities about all aspects of
mission a team of math students, super­ property management. especially new technologi­
1r is critical each demonstration have time cal tools for tracking assets. To highlight a few
vised by their professor, to design the statis­
for IT to review technolo!:,'y, architecture, from the 2007 NES: Ken Abramo's How a School
rical inventory and conduct rhe analysis. District Conducts Inventories Utilizing Protege
ease of use, ability ro add/remove fields Scan & Tracking. Julie Feldman's Using Your Asset
Chances are, these quot;know ir ailsquot; will love
from screens, compatibility wirh existing Management System to Support Performance
the real-world assignment. Measurement and Standard Process, and Peter
operation environment, hardware and Collins' Streamlining Solutions for UID Compliance
knowledgebase. 19
Where the heck do I put the 10 Walsh
11 Howell
Because there are many technical
property tag? 12 Walsh
aspects of software programs, be sure ro 13 Walsh
Anorher opporrunity to leverage com­ 14 Mike Meserole, 'There goes the greatest hitter
include representarives with information who ever lived', July 8, 2002, espn.go.com/clas­
perenr people would come when tagging
technology (IT) experience. And, do not sidobit/williams_ted
assets. Parricularly with new technology 15 Ted Williams and John Underwood, The Science of
forget to invite the quot;know it ailsquot; from Hitting, Chapter One. Fireside Publications, 1970
procurements, property managers might
younger generations. 16 Adequate is a key term in the FAR re-write
not understand exactly which componenrs because now Property Managers seek systems
Summary
comprise the trackable asset or how ro con­ that are quot;adequate.quot; rather than quot;approved,quot; as
Dr. Goetz explains in a recent Property Profession­
solidate multiple assets for purposes of capi­ Admitting incompetence does nor show al (Vol. 18, Issue 6)
talization. 17 Obviously, not every acquisition requires a commit­
weakness. You may not be technologically
tee, but for multi-million dollar items it makes
There are people who can assist: the competent, but being conscious of your sense to take special care when adding the asset
engineer who uses rhe equipmenr or the to the corporate balance sheet.
condition allows you to grow professionally.
18 Mike D. Russell. CPPS, Electronic Pmperty
procuremenr official who purchased ir most This requircs humility and persistence. Records: Value-Added or Risk-Based? Property
likely understands. By usi ng the technolo­ Professional, Vol. 18, Issue 3. National Properly
In this ~If(icle I hope I have sufficiently
Management Association, p. 30
gy competence of the lab worker and rhe encouraged you to embrace technological 19 Brian Thompson, Lessons Learned in Selecting a
commodity experience of the purchasing Property Management Sohware Solution, Property
change and to readily admit the incompe­
Professional, Vol. 18, Issue 3, National Property
tence you might have. 2o How well you
official, we in propCrty managemenr can Management Association, pp. 23-24
make a reasonable detenninarion on tag­ 20 Comments? Please let me know your thoughts:
respond to this challenge will define your
david@greatcommunications.com
ging and tracking, and then document our career and your company's success.
decision fm future audit exercises.!7
Volume 19 Issue 3 PROPERTY PROFESSIONAL 21