Agreements are input or output in PMBOK processes. An agreement is a document that is signed between two parties. The agreement may be a legal document (where the legal system is involved) or a mutual document (where two parties are involved bypassing the legal system of the land). If the Agreement is legal then legal experts, advocates, and courts are involved in signing a document. For example, some place rent agreements for a building can be mutual agreements between landlord and tenant but at other places, it can be a court registered agreement. Examples of agreements in the project management world can be
- MOU (Memorandum of Understanding)
- SLA (Service Level Agreement)
- LOA (Letter of Agreement)
- LOI (Letter of Intent)
Typically an agreement is signed between an external party and project management organization but it can also be signed between different departments (of the same organization) involved in the project.
Agreements is output of Conduct Procurements
Agreements are input or need to be considered during following processes.