Compliance Testing
Compliance testing is a quarterly assessment of stakeholder compliance with the obligations and responsibilities mandated in transaction legal documents. The Asset Manager conducts compliance testing utilizing a template created by the Portfolio Management Team. The template contains a summary of activities required by the legal documents. The objective is to protect the Air Force's interests and to assess whether the Air Force is "getting what we paid for".
More specifically, the Asset Manager assesses compliance with each item every quarter. Items found to be non-compliant are addressed in a letter to the Project Owner. The Portfolio Management team also assesses compliance according to pre-assigned responsibilities established at transaction closing. Portfolio management and installations-level asset management staff provide final compliance reports to the Portfolio Manager.
Non-compliant and Further Assessment Required items are added to the Compliance Task Tracking Matrix accessed through the base site contained in the AFPACES (Air Force Portfolio & Asset Control & Evaluation System) portal. This matrix should be used by asset management staff to track resolution of outstanding non-compliant and further assessment items. An example of the matrix is shown below.
