Financial Evaluation and Optimization of Business Processes

Abstract

Designing and optimizing a Business Process based on its financial parameters is a challenging task which requires well defined approaches, actions and recommendations which when implemented lead to tangible and quantifiable results. In this paper the authors consider Business Processes represented through the Business Process Modeling Notation with their Costs evaluated through a pattern based methodology. Using this concept of Cost calculation the authors analyze the effect of different well known best practices on the financial parameters of the process. In this study the authors also evaluate the impact of each task in a process on the overall Cost through Sensitivity Analysis leading to a structured approach to parameter variation to achieve financial optimization. The study briefly introduces the Business Process Modeling Notation, Workflow Patterns, and available Performance Measures Evaluation Techniques and recommends an adaptation of Devils Quadrangle suitable for impact evaluation.