Real Property consists of land and improvements to land including buildings, structures, and linear structures. It includes equipment affixed to the facility (such as heating systems), but not moveable equipment (such as plant equipment). In many instances, this term is synonymous with "real estate."
On the next slide, you will examine a Real Property Master Data scenario and the associated GFEBS roles. This will help you better understand the steps involved with these activities.
The Real Property includes these seven primary activities:
•Real Property Portfolio Management
•Acquisitions (Internal)
•Acquisitions (External)
•Real Property Inventory Management (RPIM)
•Real Property Inspections
•Contract and Space Management
•Property Disposal