07 Dec What is Organizational Process Assets
You will find Enterprise Environmental Factors (EEFs) and Organizational Process Assets (OPAs) very frequently while going through the PMBOK and therefore firm understanding of the topics is required. Here we will discuss the Organizational Process Assets.
Asset: Any tangible or intangible thing that can be owned or controlled to produce value for us is called an Asset for us. For example my house which I use to live is an asset for me, and so my car is which I use to commute etc.
Similarly an organization has assets in terms of process policies and knowledge base which becomes mature with the time. Organization invests in creating all these process, policies and knowledge bases so that it can help the organization wherever it is needed and thus called Organizational Process Assets.
Let me give a real example: One of my friend in my last organization was assigned a finance related project and he had to develop a detailed risk management plan. He was not experienced enough in doing that and therefore he approached me. I asked him to go to our company’s knowledge base and get one template for the same and then develop his own. And after few days I saw his name in one of the best PM of that quarter. See how helpful the knowledge base can be for anyone who needs it and that’s why we call it Organization Process Assets.
Organizational Process Assets has important role in project’s outcome and with the time it grows and becomes more and more mature.
As per PMBOK the Organizational Process Assets is divided in two categories
- Processes and procedures,
- Corporate knowledgebase.
1. Processes and procedures
The organization’s processes and procedures for performing project work include, but not limited to
2. Corporate knowledge base.
The PMBOK does not divide the corporate knowledge base according to the process groups. As per the PMBOK the corporate knowledge base includes but not limited to
- Configuration management knowledge bases (contains the versions, baselines, organization standards, policies, procedures etc)
- Financial databases (contains information of labor hours, incurred costs, budgets etc.)
- Historical information and lessons learned knowledge bases (project records, documents, project closure documentation, project performance information, and information from risk management activities from previous projects)
- Issue and defect management databases
- Process measurement databases
- Project files from past projects (scope, cost, schedule, and performance measurement baselines, project calendars etc.