A framework for cost-aware process management : cost reporting and cost prediction

Wynn, Moe T., Low, Wei Zhe, ter Hofstede, Arthur H.M., & Nauta, Wiebe (2014) A framework for cost-aware process management : cost reporting and cost prediction. Journal of Universal Computer Science, 20(3), pp. 406-430.

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Abstract

Organisations are constantly seeking efficiency gains for their business processes in terms of time and cost. Management accounting enables detailed cost reporting of business operations for decision making purposes, although significant effort is required to gather accurate operational data. Process mining, on the other hand, may provide valuable insight into processes through analysis of events recorded in logs by IT systems, but its primary focus is not on cost implications. In this paper, a framework is proposed which aims to exploit the strengths of both fields in order to better support management decisions on cost control. This is achieved by automatically merging cost data with historical data from event logs for the purposes of monitoring, predicting, and reporting process-related costs. The on-demand generation of accurate, relevant and timely cost reports, in a style akin to reports in the area of management accounting, will also be illustrated. This is achieved through extending the open-source process mining framework ProM.

Impact and interest:

3 citations in Scopus
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1 citations in Web of Science®

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ID Code: 63036
Item Type: Journal Article
Refereed: Yes
Additional Information: Special Issue: Conceptual Modelling with Specific Focus on Service-Oriented Systems
Keywords: Business process management, management accounting, process mining, cost reporting, cost prediction
ISSN: 0948-695X
Subjects: Australian and New Zealand Standard Research Classification > INFORMATION AND COMPUTING SCIENCES (080000) > INFORMATION SYSTEMS (080600)
Divisions: Past > QUT Faculties & Divisions > Faculty of Science and Technology
Current > Schools > School of Information Systems
Funding:
Copyright Owner: Copyright 2014 Journal of Universal Computer Science
Deposited On: 01 Oct 2013 22:46
Last Modified: 30 Sep 2015 07:56

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