Practice Quiz

PMI PMP Project Management

Category - Procurement Management

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Rick was in the middle of his procurement management process when he realized he was missing organizational process assets. Which is an example of an organizational process asset?
  1. Project scope statement
  2. Risk register
  3. Current contracts
  4. Lessons learned from prior projects
  5. All of the above
Explanation
Answer: D - Rick was missing lessons learned from prior projects. Organizational process assets are processes, documents and information from other projects that can aid in future projects. Other examples of organizational assets are existing organization procedures and contracts templates (or past contracts).

Risk register, current contracts and the project scope statement are all additional items needed in the procurement management process but are not part of this asset group.

Key Take Away: Project Managers should realize the benefit of organizational assets and fold them into their process more; that is, if they can find them. They are often poorly maintained and hard to find!
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