What are the four processes that define a closed-loop BPM cycle? Give example for each.

What are the four processes that define a closed-loop BPM cycle? Give example for each.

Expert Solution

The processes that define a closed-loop BPM cycle are as follows:

1) Strategize: The step involves setting of objectives and goals. It must state the vision, mission, and developing plans for the organisation. For example, the establishment of a customer-centric business strategy may be able to result an organisation in identification of high customer satisfaction as prime driver of business value

2) Plan: After making strategy management should develop operational and financial plans to achieve the goals. For example management should set budgets, forecasts, initiatives, models, and targets for the departments.

3) Monitor: The organization performance need to be monitored to ensure that activities are undertaken towards the achievement of the goals. For example: The management may use performance dashboards, analytical tools and reports to analyse the performance.

4) Act and Adjust: When there are any deviations, it bridges the gap between strategy and execution by taking the corrective action. For example: The organisation can use interpretations, assessments, collaborations, acting, decisions, and adjusting, and tracking

ekkarill92 answered 11 hours ago

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What are the four processes that define a closed-loop BPM cycle? Give example for each.

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