1.      Process Design

Process design of the BPM lifecycle involves the identification, analysis and design of business processes to enhance efficiency, reduce costs and improve customer satisfaction. 

During the process design, a thorough analysis of the existing process and process gaps is undertaken. Your organization should conduct this to identify the areas for improvement and involve automation to optimize them for better outcomes. This process optimization ensures that the existing systems are streamlined and aligned with the desired objectives of the organization.

The process design stage should answer some important questions like: 

• What is the purpose of the process? 
• Who will be involved in the process? 
• How should the process integrate with other processes or systems? 
• What technology can be utilized for the process to be executed effectively? 

By answering these questions, your business will have the ability to design a process that meets your specific needs and aligns with your business goals. 

2.      Model

During this stage of the BPM lifecycle, the goal is to create a visual representation of the business processes that are to be improved. This involves identifying key component activities, mapping out business activities and defining the sequence of process flows. Additionally, this stage calls for the identification of the resources required for each activity as well as determining the timelines for each stage in the process. 

The process model phase involves collaboration between all stakeholders to identify areas of improvement and streamline existing processes. The outcome of this stage is a detailed blueprint that eliminates confusion and misunderstanding by providing clarity to all stakeholders of the organization. During this phase, utilizing business process management software is beneficial.

The business process model created should effectively showcase how activities flow from one process to another, including incoming and outgoing inputs as well as expected outputs, to achieve the intended results. 

3.      Execute

This stage of the BPM lifecycle involves the implementation and execution of designed processes. 

During the Execute stage, the focus is on achieving the desired outcomes by adhering to the process design and ensuring all stakeholders are working together to complete necessary tasks. This stage requires close monitoring and control to ensure compliance with standards and regulations. 

4.      Monitor

During this stage, the aim is to ensure that the executed processes remain effective and that they meet the expected outcomes of the organization. The monitoring stage is critical in recognizing any issues or inefficiencies within the implemented processes. 

The main activity for this stage is continuous tracking, analysis and measurement of process performance. The execution of defined key performance indicators (KPIs) is a primary component of this stage. These KPIs assist in the identification of areas that require improvement or adjustment, allowing the organization to take corrective action as necessary. 

5.      Optimize

This stage of the Business Process Management Lifecycle involves progressive improvement and fine-tuning of the processes developed in the previous stages. 

During this stage, your organization must apply advanced and innovative techniques to manage multiple processes and automate processes further, making them more efficient. Various tools, such as Six Sigma and Lean methodologies, are used to identify areas for improvement, analyze processes, and eliminate redundant steps. This stage also involves adjusting processes to accommodate changing business requirements and technologies, thereby facilitating business process change.

Your organization must conduct regular performance monitoring, gather feedback from stakeholders and use data analytics to continually optimize its processes.