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Business Process Management (BPM)

A methodology concerned with continual alignment and development of business processes and best practice. The application of BPM is continious and cyclical with five distinct stages: design, modelling, execution, monitoring, and optimisation. These are collectively known as the Business Process Management Life-cycle. BPM can involve people centred processes or, more commonly, technology based processes. Examples include budget planning and forecasting, financial reporting, profitability analysis and the Balanced Scorecard methodology.