AFM341 Chapter Notes - Chapter 2: Business Process Model And Notation, Business Analysis, Business Process

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM341
• Professor: Adeel Mahmood

Document Summary

Business process: a defined sequence of business activities that use resources to transform specific inputs into specific outputs to achieve a business goal. A business process is constrained by business rules. Business analysis: the process of defining business process requirements and evaluating potential investments. Business analysis involves ascertaining, documenting, and communicating information about current and future business processes using business process modeling and related tools. Business model: a simple, abstract representation of one or more business processes. A business model is typically a graphical depiction of the essential business process information. Documentation: explains how business processes and business systems work. Documentation is a tool for information transmission and communication. Value of business models: business models create value in the following ways: managing complexity, eliciting requirements, reconciling viewpoints, specifying requirements, managing compliance, supporting training, managing and reusing knowledge. Activity models: describe the sequence of workflow in a busi ness process or processes.