A process is a sequential series of related activities that result in an output. An organization may be comprised of many processes, which as a group are intended to achieve the goals of the entity. Examples of processes are order entry, production planning, and billing. There may be a number of decision points in a process that cause different activities to be conducted.

The derivation and use of an effective group of processes can create significant value for a business.

Related Courses

Activity-Based Management  
Lean Accounting Guidebook 
Project Management