What is the best way to assess the success and value of project management processes?

Anish, mapping the success criteria (as outlined and agreed with the stakeholders) to project deliverables, and then validating these as each deliverable is completed, is a common way.

Here are some metrics that may be useful for assessing the value of project management processes:
- Process length is less than the reporting period for monitoring progress or completing project action items
- Manhour effort for executing the process is not greater than 10% the value of the process product
- Process records replace the need for other project control documents
- Process approvals is no more than PM, PM supervisor and the Organization’s supporting department.