Explanation/Reference:
Explanation:
10.2.3.4 Organizational Process Assets Updates
The organizational process assets, which may be updated include, but are not limited to:
Stakeholder notifications. Information may be provided to stakeholders about resolved issues,

approved changes, and general project status.
Project reports. Formal and informal project reports describe project status and include lessons learned,

issue logs, project closure reports, and outputs from other Knowledge Areas (Sections 4-13).
Project presentations. The project team provides information formally or informally to any or all of the

project stakeholders. The information and presentation method should be relevant to the needs of the audience.
Project records. Project records may include correspondence, memos, meeting minutes, and other

documents describing the project. This information should, to the extent possible and appropriate, be maintained in an organized manner. Project team members can also maintain records in a project notebook or register, which could be physical or electronic.
Feedback from stakeholders. Information received from stakeholders concerning project operations is

distributed and used to modify or improve future performance of the project.
Lessons learned documentation. Documentation includes the causes of issues, reasoning behind the

corrective action chosen, and other types of lessons learned about communications management.
Lessons learned need to be documented and distributed so that it becomes part of the historical database for both the project and the performing organization.

Section: Volume E
Explanation:
12.2.3.1 Selected Sellers
The selected sellers are those who have been judged to be in a competitive range based upon the outcome of the proposal or bid evaluation, and who have negotiated a draft contract that will become the actual contract when an award is made. Final approval of all complex, high-value, high-risk procurements will generally require organizational senior management approval prior to award.
Process: 12.2 Conduct Procurements
Definition: The process of obtaining seller responses, selecting a seller, and awarding a contract.
Key Benefit: The key benefit of this process is that it provides alignment of internal and external stakeholder expectations through established agreements.
Inputs
1. Procurement management plan
2. Procurement documents
3. Source selection criteria
4. Seller proposals
5. Project documents
6. Make-or-buy decisions
7. Procurement statement of work
8. Organizational process assets
Tools & Techniques
1. Bidder conference
2. Proposal evaluation techniques
3. Independent estimates
4. Expert judgment
5. Advertising
6. Analytical techniques
7. Procurement negotiations
Outputs
1. .Selected sellers
2. .Agreements
3. .Resource calendars
4. .Change requests
5. .Project management plan updates
6. .Project documents updates