Monitor and Control Project Work – monitoring and controlling the

.4 Organizational Process Assets When developing the project charter and subsequent project documentation, any and all of the assets that are used to influence the project’s success can be drawn from organizational process assets. Any and all of the organizations involved in the project can have formal and informal policies, procedures, plans, and guidelines whose effects must be considered. Organizational process assets also represent the organizations’ learning and knowledge from previous projects; for example, completed schedules, risk data, and earned value data. Organizational process assets can be organized differently, depending on the type of industry, organization, and application area. For example, the organizational process assets could be grouped into two categories: • Organization’s processes and procedures for conducting work: ♦ Organizational standard processes, such as standards, policies e.g., safety and health policy, and project management policy, standard product and project life cycles, and quality policies and procedures e.g., process audits, improvement targets, checklists, and standardized process definitions for use in the organization ♦ Standardized guidelines, work instructions, proposal evaluation criteria, and performance measurement criteria ♦ Templates e.g., risk templates, work breakdown structure templates, and project schedule network diagram templates ♦ Guidelines and criteria for tailoring the organization’s set of standard processes to satisfy the specific needs of the project ♦ Organization communication requirements e.g., specific communication technology available, allowed communication media, record retention, and security requirements ♦ Project closure guidelines or requirements e.g., final project audits, project evaluations, product validations, and acceptance criteria ♦ Financial controls procedures e.g., time reporting, required expenditure and disbursement reviews, accounting codes, and standard contract provisions ♦ Issue and defect management procedures defining issue and defect controls, issue and defect identification and resolution, and action item tracking ♦ Change control procedures, including the steps by which official company standards, policies, plans, and procedures—or any project documents—will be modified, and how any changes will be approved and validated ♦ Risk control procedures, including risk categories, probability definition and impact, and probability and impact matrix ♦ Procedures for approving and issuing work authorizations. A Guide to the Project Management Body of Knowledge PMBOK ® Guide Third Edition 84 2004 Project Management Institute, Four Campus Boulevard, Newtown Square, PA 19073-3299 USA • Organizational corporate knowledge base for storing and retrieving information: ♦ Process measurement database used to collect and make available measurement data on processes and products ♦ Project files e.g., scope, cost, schedule, and quality baselines, performance measurement baselines, project calendars, project schedule network diagrams, risk registers, planned response actions, and defined risk impact 4 ♦ Historical information and lessons learned knowledge base e.g., project records and documents, all project closure information and documentation, information about both the results of previous project selection decisions and previous project performance information, and information from the risk management effort ♦ Issue and defect management database containing issue and defect status, control information, issue and defect resolution, and action item results ♦ Configuration management knowledge base containing the versions and baselines of all official company standards, policies, procedures, and any project documents ♦ Financial database containing information such as labor hours, incurred costs, budgets, and any project cost overruns.

4.1.2 Develop Project

Charter: Tools and Techniques .1 Project Selection Methods Project selection methods are used to determine which project the organization will select. These methods generally fall into one of two broad categories 4 : • Benefit measurement methods that are comparative approaches, scoring models, benefit contribution, or economic models. • Mathematical models that use linear, nonlinear, dynamic, integer, or multi- objective programming algorithms. .2 Project Management Methodology A project management methodology defines a set of Project Management Process Groups, their related processes and the related control functions that are consolidated and combined into a functioning unified whole. A project management methodology may or may not be an elaboration of a project management standard. A project management methodology can be either a formal mature process or an informal technique that aids a project management team in effectively developing a project charter. A Guide to the Project Management Body of Knowledge PMBOK ® Guide Third Edition 2004 Project Management Institute, Four Campus Boulevard, Newtown Square, PA 19073-3299 USA 85