What is an Asset ?
The dictionary of an asset meaning is “Asset is an item of value owned.” (Merriam Webster)
Examples of an Asset are House to live in, Land which you can cultivate, a Computer which you can work on etc.
Like people owning assets, Organizations also have Assets, which help in running the business, growing it and achieve strategic goals. Such assets are called Organizational Process Assets (OPAs). A more detailed and formal definition of OPAs is below.
Organizational Process Assets are
- Procedures, and
- Knowledge bases
specific to and used by an organization.
OPAs are internal to the organization. They are updated and added as necessary throughout the project.
2 Main categories of OPAs
- Processes, Policies, and Procedures
- Organizational Knowledge Repositories
Processes, Policies, and Procedures – Over time Organizations develop processes, procedures, and policies that proved to be best practices. By following them lot of time & effort can be saved, and best quality can be achieved.
Example: Organization standards, Change control protocols etc.
Organizational Knowledge Repositories – These are
- Historical Information
- Lessons Learned Databases
- Issue and Defect management databases
- Project files from past projects
You may be interested in checking Enterprise Environmental Factors (EEFs).