By Sophie Dulhunty at October 23 2018 21:30:21
Retirement Plan Flowchart : One way of keeping track of the retirement plans is by using a retirement plan flowchart. Such a flowchart gives you a graphical view of all the activities that have and are going to occur in the whole process of retirement planning. There will be various lines and symbols all with their own meaning showing all the steps to go through the process. A retirement plan flowchart is a planning tool that an individual can use as well, then it will show you the whole process at one glance.
Process definitions are high level descriptions instead of rigid workflows : Processes can only be defined up to a certain level of detail, and it is difficult to provide low level work instructions or to automate decisions. Because they cannot be formalised in detail, process simulation is rarely possible. Decisions are highly subjective and too complex to be expressed in a formal language, as they are taken based on intuition and not on rigid business rules.
All process instances are executed in a very similar way and it is easy to draw a flowchart detailing the sequence in which tasks are executed. It is also possible to formalize the business rules that guide decisions, normally based on the evaluation of some process variables. But recently other kinds of processes have caught the attention of process management specialists. They are known as knowledge processes, or knowledge-based processes. Knowledge processes can be defined as "high added value processes in which the achievement of goals is highly dependent on the skills, knowledge and experience of the people carrying them out". Some examples could be management, R&D, or new product development processes.
In the last years some organizations have emerged with the aim of creating professional communities around specific disciplines such as Software Development (SEI, ESI, etc...), Project Management (PMI), Business Process Management (BPMI), IT Service Management (ITSMF), etc... One of the objectives of these groups is to develop a body of knowledge that compiles the discipline's best practices in the form of reference frameworks, methodologies and maturity models. These assets should be considered by any organization interested in knowledge process management.