It is the intent of these principles to provide guidance for an economical and efficient system for (1) the supply of personal property, (2) the utilization of available property, and (3) the disposal of property.

Historically, property management practices have often reflected organizational or management processes that did not reflect "best practices."

One of the greatest challenges facing property managers is how to ensure that overly detailed and costly practices used or proposed for the oversight of property assets are not adopted as representing "best practices" or established as operating policy.

Property management practices must seek, when viewed in totality, to be effective and efficient, to the point at which benefits exceed the costs of operation.

Often the key property management functions are based on compliance with quantitative measures and, as such, compliance with "process" has become more important than the goals that property management systems should seek to achieve.