What are the four processes that define a closed-loop bpm cycle"?
Answers
Answer:
The four processes that define a closed-loop BPM cycle are:
1. Strategize: This is the process of identifying and stating the organization's mission, vision, and objectives, and developing plans to achieve these objectives.
2. Plan: When operational managers know and understand the what they will be able to come up with the detailed operational and financial plans.
3. Analyze: When the operational and financial plans are underway, it is imperative that the performance of the organization be monitored. The monitoring performance should address what to monitor and how to monitor.
4. Act and Adjust: The final part of this loop is taking action and adjusting current actions based on analysis of problems and opportunities. Whether a company is interested in growing its business or improving its operations, virtually all strategies depend on new projects-creating new products, entering new markets, and acquiring new customers.