What is meant by organizational process assets?

Organizational process assets are the plans, processes, policies, procedures, and knowledge bases specificto and used by the performing organization. They include any artifact, practice, or knowledge from any or all ofthe organizations involved in the project that can be used to perform or govern the project. These process assetsinclude formal and informal plans, processes, policies, procedures, and knowledge bases, specific to and used by theperforming organization. The process assets also include the organization’s knowledge bases such as lessons learnedand historical information. Organizational process assets may include completed schedules, risk data, and earnedvalue data. Organizational process assets are inputs to most planning processes. Throughout the project, the projectteam members may update and add to the organizational process assets as necessary. Organizational process assetsmay be grouped into two categories: (1) processes and procedures, and (2) corporate knowledge base.