The Impact of Business Process Management on Risk Management on Strategic Decisions of Organizational Managers

identification of risks contributes to a better understanding of potential threats to business objectives. Identification is reached by eliciting useful knowledge for both the risk and business process managers. In this context, clarifying the many relationships between risks and business processes in their nominal operating condition is a major issue and a prerequisite to controlling risks. Regarding risk analysis, the resulting integrated risk and business process model will help control various risk factors and danger quantification in view of the exposure to given risks. In fact, the risk manager will use the risk factors knowledge in the context of processes to better conduct risk analysis and handling. Regarding the treatment of risks, the model will also provide useful knowledge for preventive and curative actions, since the risk context (i.e., the business process and its environment) is known and formalized in the model. From a business process management point of view, process engineers and process managers could refer to risk models for decisions concerning process engineering and control due to a better understanding of the relationships between processes and risks.

Keywords:

Business process management , Enterprise risk management , Risk-aware business process management , Model-driven engineering