Most often any project goes through some easily identifiable set of activities during its lifetime. Some typical activities can be identified as related initiating a project. Planning set of activities are required to plan the activities to be undertaken to achieve the defined goals. Executing group of activities help getting the project done. A related set of activities are required to monitor and correct the course of actions to keep the project on the planned course charted for it. Final set of activities are related to the systematic closure of the project. Most important of which is, of course, to formally record what has been learnt during the execution of the project. When documented, this set of documents, related forms to be used, the way estimates are to be made, database of estimates of similar projects etc. are often referred to as Organizational process assets.