Process optimization system
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United States of America Patent
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Issued Date -
Oct 28, 2004
app pub date -
Dec 26, 2001
filing date -
Dec 26, 2001
priority date (Note) -
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Abstract
An automated system (100) and method for optimizing process risk and return from the perspective of the process owner. The process, process features and feature options are defined using process management system data. The expected process outputs are then mapped to matrices of value and risk for the owner. The system then identifies the mix of features and feature options that maximize expected process value from the perspective of the owner. The system also identifies the mix of features and feature options that maximize expected process value while minimizing process risk for other frames.
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