Conservancies are a key component of Namibia's successful wildlife and natural resource management policy. A conservancy is a self-governing entity which confer rights over tourism and wildlife to the local people who live there. There are currently 86 registered conservancies in Namibia. As part of their resource monitoring and mangement system, each conservancy uses an 'Event Book' to monitor wildlife movement and to record the details of human-wildlife conflict incidents such as livestock losses and damage to crops and infrastructure. These can be used to calculate the monetary value of the damages and losses for the previous year, and to provide an estimate for the coming year.