When should “Overhead” be used and when should these items be treated as projects?

iTeam allows Overhead items to be defined and actual time recorded against those items.  This is often used for administrative items which are not actively managed with forecasts or baselines.  Overhead items allow for a resource’s full activities to be accounted for in time tracking, but those items do not show up in the project portfolio.  Examples might include Meetings, Paid Time Off, etc. Sometimes it is useful to manage these administrative items actively as projects.  To do this, just define a project for each item.  In this case, it may be useful to put the overhead-type projects in a special node in the Project OBS to facilitate easy usage and rights administration.  In this case, these “overhead” projects can be actively managed (i.e., have forecasts, baselines, and actuals recorded against them in iTeam or Portfolio), just like other projects.