The value chain processes are a strategic asset of the organization, so they must be documented, measured, improved (when necessary), and managed like any other asset. By following the methodology outlined, managers have the added advantage of using enabling technology to help execute these processes more efficiently and effectively.
Business Process Management is a systematic approach to understanding, improving, and managing an organization. It is generally accepted to have four phases: document, assess, improve, and manage. (See Figure 4-1.)