Practice
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While the steps can be viewed as a cycle, economic or time constraints are likely to limit the process to only a few iterations. This is often the case when an organization uses the approach for short to medium term objectives rather than trying to transform the organizational culture. True iterations are only possible through the collaborative efforts of process participants. In a majority of organizations, complexity will require enabling technology (see below) to support the process participants in these daily process management challenges.
To date, many organizations often start a BPM project or program with the objective to optimize an area that has been identified as an area for improvement.
In the financial sector, BPM is critical to make sure the system delivers a quality service while maintaining regulatory compliance.
Currently, the international standards for the task have limited BPM to the application in the IT sector, and ISO/IEC 15944 covers the operational aspects of the business. However, some corporations with the culture of best practices do use standard operating procedures to regulate their operational process. Other standards are currently being worked upon to assist in BPM implementation (BPMN, Enterprise Architecture, Business Motivation Model).
Read more about this topic: Business Process Management
Famous quotes containing the word practice:
“Those who make a practice of comparing human actions are never so perplexed as when they try to see them as a whole and in the same light; for they commonly contradict each other so strangely that it seems impossible that they have come from the same shop.”
—Michel de Montaigne (1533–1592)
“Children also need opportunities to practice being less than perfect. They can afford to be ill tempered with us because it is our love that is most constant. This is the essence of unconditional love.... Our steadfast love provides a safe haven.”
—Cathy Rindner Tempelsman (20th century)
“No exile at the South Pole or on the summit of Mont Blanc separates us more effectively from others than the practice of a hidden vice.”
—Marcel Proust (1871–1922)