What is Organizational Process Assets In PMBOK 5th Edition

You will find Enterprise Environmental Factors (EEFs) and Organizational Process Assets(OPAs) very frequently while going through the PMBOK5th edition 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.
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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 knowledgebase 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
  1. Processes and procedures
  2. Corporate knowledge base
 
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