Business Process Management Strategy and Governance
Expert-defined terms from the Professional Certificate in Business Process Management with Artificial Intelligence course at Greenwich School of Business and Finance. Free to read, free to share, paired with a professional course.
Accountability refers to the responsibility of individuals or teams to de… #
Related terms include compliance and governance. In Business Process Management, accountability is crucial to ensure that processes are executed as intended and that any deviations or issues are addressed promptly. For instance, in a manufacturing process, the production team is accountable for meeting the daily production targets, and the quality control team is accountable for ensuring that the products meet the required standards.
Activity #
Based Costing is a method of costing that assigns costs to specific activities or tasks, rather than to departments or functions, in order to provide a more accurate picture of the costs associated with each process. Related terms include cost allocation and process mapping. In Business Process Management, Activity-Based Costing is used to identify areas where costs can be reduced or optimized, and to make informed decisions about process improvements. For example, a company may use Activity-Based Costing to determine the cost of processing a customer order, and identify opportunities to streamline the process and reduce costs.
Adaptive Case Management refers to the management of dynamic and unpredic… #
Related terms include case management and dynamic processes. In Business Process Management, Adaptive Case Management is used to manage processes that require flexibility and adaptability, such as those in the healthcare or financial services industries. For instance, a hospital may use Adaptive Case Management to manage patient care, where the treatment plan may need to be adjusted based on the patient's response to treatment.
Artificial Intelligence refers to the use of machine learning and… #
Related terms include machine learning and deep learning. In Business Process Management, Artificial Intelligence is used to automate processes, improve decision-making, and enhance customer experiences. For example, a company may use Artificial Intelligence to develop a chatbot that can answer customer inquiries and provide personalized recommendations.
BPMN refers to the Business Process Model and Notation, which is a standard</… #
Related terms include process modeling and notation systems. In Business Process Management, BPMN is used to create visual representations of processes, which can be used to communicate process information to stakeholders and to identify areas for improvement. For instance, a company may use BPMN to model its order-to-cash process, and identify opportunities to streamline the process and reduce cycle time.
Business Architecture refers to the design and structure of an org… #
Related terms include enterprise architecture and business model. In Business Process Management, Business Architecture is used to align business processes with the organization's overall strategy and goals, and to identify opportunities for process improvement. For example, a company may use Business Architecture to develop a roadmap for digital transformation, which includes the implementation of new technologies and the redesign of business processes.
Business Intelligence refers to the use of data analytics a… #
Related terms include data warehousing and business analytics. In Business Process Management, Business Intelligence is used to provide insights into process performance, and to identify areas for improvement. For instance, a company may use Business Intelligence to analyze customer data and identify opportunities to improve customer satisfaction and loyalty.
Business Process Management refers to the discipline of designing ,… #
Related terms include process improvement and quality management. In Business Process Management, the focus is on creating efficient, effective, and agile processes that support the organization's overall strategy and goals. For example, a company may use Business Process Management to redesign its supply chain process, and improve the speed and efficiency of delivery to customers.
Business Process Re #
engineering refers to the fundamental transformation of business processes to achieve significant improvements in performance and efficiency. Related terms include process redesign and business transformation. In Business Process Management, Business Process Re-engineering is used to radically redesign business processes, and to achieve breakthrough improvements in performance and efficiency. For instance, a company may use Business Process Re-engineering to transform its customer service process, and improve the speed and quality of service delivery.
Cloud Computing refers to the use of remote computing re… #
Related terms include cloud storage and software as a service. In Business Process Management, Cloud Computing is used to provide flexible and scalable computing resources, and to support the deployment of business applications and processes. For example, a company may use Cloud Computing to deploy a customer relationship management system, and provide access to customer data and analytics.
Compliance refers to the adherence to regulatory requirements</… #
Related terms include regulatory affairs and compliance management. In Business Process Management, Compliance is crucial to ensure that business processes are executed in a way that meets regulatory requirements and industry standards, and to minimize the risk of non-compliance. For instance, a company may use Compliance to ensure that its financial reporting processes meet the requirements of the Securities and Exchange Commission.
Continuous Improvement refers to the ongoing effort to improve<… #
Related terms include quality management and process improvement. In Business Process Management, Continuous Improvement is used to identify areas for improvement, and to implement changes that enhance process efficiency and effectiveness. For example, a company may use Continuous Improvement to identify opportunities to reduce waste and improve quality in its manufacturing process.
Customer Relationship Management refers to the management of customer<… #
Related terms include customer service and customer experience. In Business Process Management, Customer Relationship Management is used to design and execute processes that support customer engagement and loyalty, and to provide personalized experiences that meet customer needs and preferences. For instance, a company may use Customer Relationship Management to develop a loyalty program that rewards customers for repeat business.
Digital Transformation refers to the use of digital technologie… #
Related terms include digital innovation and business model innovation. In Business Process Management, Digital Transformation is used to leverage digital technologies to create new business models, products, and services, and to enhance customer experiences. For example, a company may use Digital Transformation to develop a mobile app that allows customers to order products and services online.
Enterprise Architecture refers to the design and structure of an o… #
Related terms include business architecture and information technology architecture. In Business Process Management, Enterprise Architecture is used to align business processes with the organization's overall strategy and goals, and to identify opportunities for process improvement. For instance, a company may use Enterprise Architecture to develop a roadmap for digital transformation, which includes the implementation of new technologies and the redesign of business processes.
Information Technology refers to the use of computing resources… #
Related terms include information systems and technology infrastructure. In Business Process Management, Information Technology is used to provide the necessary infrastructure and systems to support business processes, and to enable the deployment of business applications and services. For example, a company may use Information Technology to deploy a customer relationship management system, and provide access to customer data and analytics.
Innovation refers to the creation of new ideas , products… #
Related terms include research and development and product innovation. In Business Process Management, Innovation is used to create new business models, products, and services, and to enhance customer experiences. For instance, a company may use Innovation to develop a new product that meets emerging customer needs and preferences.
Key Performance Indicator refers to a metric or measure used to <b… #
Related terms include performance management and metric analysis. In Business Process Management, Key Performance Indicators are used to measure process performance, and to identify areas for improvement. For example, a company may use Key Performance Indicators to measure the cycle time of its order-to-cash process, and identify opportunities to reduce cycle time and improve efficiency.
Lean Management refers to the use of lean principles and <i… #
Related terms include lean manufacturing and process improvement. In Business Process Management, Lean Management is used to identify and eliminate waste in business processes, and to improve process efficiency and effectiveness. For instance, a company may use Lean Management to identify opportunities to reduce waste and improve quality in its manufacturing process.
Operational Excellence refers to the pursuit of excellence in the… #
Related terms include process excellence and operational efficiency. In Business Process Management, Operational Excellence is used to create efficient, effective, and agile processes that support the organization's overall strategy and goals. For example, a company may use Operational Excellence to redesign its supply chain process, and improve the speed and efficiency of delivery to customers.
Process Governance refers to the oversight and control of business… #
Related terms include compliance management and process control. In Business Process Management, Process Governance is crucial to ensure that business processes are executed in a way that meets regulatory requirements and industry standards, and to minimize the risk of non-compliance. For instance, a company may use Process Governance to ensure that its financial reporting processes meet the requirements of the Securities and Exchange Commission.
Process Mapping refers to the creation of visual representation… #
Related terms include process modeling and business process modeling. In Business Process Management, Process Mapping is used to create visual representations of processes, which can be used to communicate process information to stakeholders and to identify areas for improvement. For example, a company may use Process Mapping to model its order-to-cash process, and identify opportunities to streamline the process and reduce cycle time.
Quality Management refers to the use of quality control and… #
In Business Process Management, Quality Management is used to ensure that business processes meet customer requirements and industry standards, and to identify opportunities for process improvement. For instance, a company may use Quality Management to ensure that its manufacturing process meets the required quality standards, and to identify opportunities to improve quality and reduce waste.
Risk Management refers to the identification , assessment , and m… #
Related terms include risk assessment and risk mitigation. In Business Process Management, Risk Management is used to identify, assess, and mitigate risks in business processes, and to minimize the impact of uncertain events. For example, a company may use Risk Management to identify potential risks in its supply chain process, and develop strategies to mitigate those risks.
Six Sigma refers to a methodology for improving the quality … #
In Business Process Management, Six Sigma is used to improve the quality of business processes, and to identify and eliminate defects. For instance, a company may use Six Sigma to improve the quality of its manufacturing process, and reduce the number of defects in its products.
Supply Chain Management refers to the management of the flow of <b… #
Related terms include logistics management and supply chain optimization. In Business Process Management, Supply Chain Management is used to manage the flow of goods, services, and information in a supply chain, and to achieve competitive advantage. For example, a company may use Supply Chain Management to optimize its supply chain process, and improve the speed and efficiency of delivery to customers.
Sustainability refers to the ability of a business process or o… #
Related terms include environmental sustainability and social responsibility. In Business Process Management, Sustainability is used to ensure that business processes are designed and executed in a way that minimizes environmental impact and promotes social responsibility. For instance, a company may use Sustainability to develop a sustainable supply chain process, and reduce its environmental footprint.
Total Quality Management refers to a methodology for improving the… #
In Business Process Management, Total Quality Management is used to improve the quality of business processes, and to involve all stakeholders in the quality improvement process. For example, a company may use Total Quality Management to improve the quality of its manufacturing process, and involve employees and suppliers in the quality improvement process.
Value Chain Analysis refers to the analysis of the value chain<… #
Related terms include value chain management and supply chain analysis. In Business Process Management, Value Chain Analysis is used to analyze the value chain of a business process or organization, and to identify opportunities for improvement. For instance, a company may use Value Chain Analysis to analyze its supply chain process, and identify opportunities to improve efficiency and reduce costs.
Workflow Management refers to the use of workflow management</b… #
Related terms include business process management and workflow automation. In Business Process Management, Workflow Management is used to manage and control business processes, and to automate workflow processes. For example, a company may use Workflow Management to automate its order-to-cash process, and improve the speed and efficiency of delivery to customers.