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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
Home » Glossary » What is Process Operations Management?
What is Process Operations Management?  

What is Process Operations Management?


Process Operations Management is a complex of techniques and tools to plan, evaluate, control and optimize processes and operations running within an organization, while ensuring that this organization creates a business value. It is intended to prevent and remove mismatches between processes and operations to ensure that available resources are utilized to produce desired results within a predefined period of time.

 A commercial organization enjoys a significant competitive advantage if it manages processes and operations effectively. Managing processes and operations means performing a set of procedures to ensure sustainability and feasibility of every operation and process undertaken. There are fives steps to reach sustainable and feasible processes and operations. These steps are:

  • Modeling – using process modeling techniques to develop a model that shows flows of processes and operations and their relationships, including inputs, resources and outputs.
  • Simulation – imitating selected process models with a set of math formulas to test the models and ensure that they provide feasible and sustainable processes and operations. If the test is passed, the models are put in practice.
  • Monitoring – tracking and evaluating processes and operations for effectiveness and value-adding capability. A set of performance criteria is required to monitor processes and operations.
  • Control – using administrative tools and methods to make change to ongoing processes and operations while ensuring that sustainability and feasibility are reached.
  • Optimization – selecting and following an improvement methodology that lets determine problems of current processes and operations and develop respective solutions.

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