Chapter 2

Question 1

activities in business process modeling

Answer 1

represent specific steps in a business process

Question 2

activity models

Answer 2

Models that describe the sequence of workflow in a business process or processes.

Question 3

annotations

Answer 3

Model elements that allow the modeler to add additional descriptive information to the model. Annotations are modeled with text inside a bracket connected to other model symbols with a dashed line.

Question 4

business analysis

Answer 4

The process of defining business process requirements and evaluating potential improvements. Business analysis involves ascertaining, documenting, and communicating information about current and future business processes using business process modeling and related tools.

Question 5

business model

Answer 5

A simple, abstract representation of one or more business processes. A business model is typically a graphical depiction of the essential business process information.

Question 6

business process

Answer 6

A defined sequence of business activities that use resources to transform specific inputs into specific outputs to achieve a business goal.

Question 7

BPMN

Answer 7

Business process modeling notation. A standard for the description of activity models.

Question 8

DFD

Answer 8

Data Flow Diagram. Another type of activity model that graphically shows the flow of data through a system and also incorporates elements of structure models.

Question 9

documentation

Answer 9

An information transmission and communication tool that explains how business processes and business systems work.

Question 10

events UML

Answer 10

Classes that model the organization’s transactions, usually affecting the organization’s resources, such as sales and cash receipts.

Question 11

events BPMN

Answer 11

Important occurrences that affect the flow of activities in a business process, including start, intermediate, and end events.

Question 12

Flowcharts

Answer 12

Visualizations of a process activity; they are activity models much like models using BPMN.

Question 13

gateways

Answer 13

Show process branching and merging as the result of decisions. Basic gateways are depicted as diamonds. Usually, gateways appear as pairs on the diagram. The first gateways shows the branching, and the second gateway shows the merging of the process branches.

Question 14

lanes (or swimlanes)

Answer 14

BPMN symbols that provide subdivisions of pools to show, for example, functional responsibilities within and organization.

Question 15

message flows

Answer 15

BPMN represents exchanges between two participants (pools) in the same process as message flows, which are modeled as dashed arrows.

Question 16

pools

Answer 16

BPMN symbols used to identify participants, actors, or persons that perform activities and interact with other participants in a process.

Question 17

process maps

Answer 17

Simple flowcharts that use a basic set of symbols to represent a business process activity.

Question 18

sequence flows

Answer 18

BPMN symbols that show the normal sequence of activities in a business process. Sequence flows are modeled as solid arrows, with the arrowhead showing the direction of process flows.

Question 19

Stewardship and Reporting Roles

Answer 19

Regulatory compliance
Tax returns
Stakeholder assurance
Investor Relations
Raising capital and loans
Board reports
Statutory reporting

Question 20

Accounting/Finance Operations Roles

Answer 20

Finance and accounting processes (procure to pay, order to cash, record and report, payroll and treasury)

Financial close–completing period-end accounts

Financial consolidation, reporting and analysis

Providing comprehensive management information

People management

Using IT to make finance and accounting processes more efficient and effective

Question 21

Business Management Support Roles

Answer 21

Management information

Planning, budgeting, and forecasting

Performance measurement, reporting and analysis

Performance management

Risk management–from strategic to operational, including fraud risk

Investment appraisal

Cost management
Supply chain management
Value-based management
Project management
Change management
Capital structure and dividend policy
Strategic planning
Professional expertise (e.g. merger and acquisition or tax)

Question 22

IMA Competency Framework

Answer 22

Strategic management
Reporting and control
Technology and analytics
Business acumen and operations
Leadership
Professional ethics and values

Question 23

CGMA Competency Framework

Answer 23

Technical skills
Business skills
People skills
Leadership skills