Process Ownership

Posted in Human Resource Terms, Total Reads: 275
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Definition: Process Ownership

Process Ownership is a phenomenon by which KPI’s are realized by the person operating upon the process. He is responsible for obtaining any objectives, results or insights from the process & has the ability & authority to make the necessary changes in terms of the process.


Implications

1. It could be considered as a framework that focuses on achieving results by means of continuous configuration & implementation.

2. Finance related companies have constraints of improving profitability & performance, focusing on one takes away the fizz from another.

Process ownership is thus considered as an important factor, where a single person is responsible for achieving several outcomes, with authority.


Advantages:

1. Implementing process ownership in a structured manner helps in achieving not only the proper results but also improving efficiency/accountability of the system.

2. It makes the process free from any misalignment, redundancy as there is a system to monitor everything.

3. Appointing & empowering the person with the right set of skills will help improve employee motivation.


Disadvantages:

1. In many cases different approaches towards the same problem may lead to a bit of disaster.

2. Job roles & responsibilities if not clear may lead to problems for the process owner

3. Having interdependent processes may result in having serious issues, if there is a bottleneck in one of the process.

Thus to make the process owner system an effective, one needs to have clearly defined roles, key business process, objectives & goals.

Search & Explore : Management Dictionary

Browse the definition and meaning of more terms similar to Process Ownership. The Management Dictionary covers over 7000 business concepts from 6 categories.

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