Microsoft Project12 and Events

A
nearly universal element of EPM (enterprise project management) deployments is
the implementation of custom business processes. Each organization has their
own methodology for proposing projects, asking for resources to fund or staff a
project, taking dependencies, changing dates or scope, etc. P12 adds
server-side events to support customers in building business processes tightly
integrated into Project Server.

If you are interested to read more click Events

Jerry