A work product approved by senior management, proposing improvements to processes, is related to which practice?

The practice related to a work product approved by senior management that proposes improvements to processes is Process Management (PCM). This practice emphasizes the importance of managing organizational processes to enhance efficiency and effectiveness. When senior management approves a work product suggesting improvements, it indicates a strategic focus on refining processes, aligning them with organizational goals and performance objectives.

Process Management encompasses identifying, defining, and deploying processes necessary for organizational success. It creates a structured environment for continuous improvement, integrating feedback and insights from various sources, including management. The active involvement of senior management in the approval process underscores the importance of leadership commitment to enhancing processes, which is a key aspect of effective process management.

In contrast, the other options may involve elements related to processes, but they do not directly address the approval and strategic alignment aspect indicated in the question. For instance, Process Asset Development focuses on creating and maintaining process assets, Monitoring and Control deals with oversight and tracking of processes or projects, and Governance refers to the frameworks and policies that guide decision-making and accountability within an organization. Each of these areas while related to processes, does not specifically encompass the concept of improving processes through senior management's direct approval.