Understanding the common WBS

Maintaining historical WBS data based on best practices and lessons learned from past projects can help companies quickly realize a specific WBS for an RFP. You can then use the same WBS to finalize the cost and schedule after awarding the contract, and to eventually execute the project. You can organize historical WBS data by various criteria, including product category and business unit, to suit specific business needs.

IPP&E allows you to manage a library of common WBSs that represents a collection of WBS elements for a variety of products and processes relevant to the company. It provides a systematic and standardized method of gathering cost and other relevant data across all types of programs. The common WBS provides a template of a particular class of product that you can clone for multiple RFPs.

Having actual historical data to support cost estimates of similar products is a valuable resource. You can organize the library of common WBSs based on the need of the customer, and it can be improved from Lessons Learned in the execution of past or present programs.