Vienna University of Economics and Business
The major contribution of this paper is the introduction of a reference model which is capable to consider information acquired within the business process management and risk management domain. The central objective of the reference model is to enable the modeling of risk aspects in such a way that it provides the foundation for risk-aware business process simulations. Within this paper, the authors present an approach that combines essential activities of business process and risk management leading to risk aware business process management within an organization. They illustrate their novel reference model which comprises extensions of existing modeling languages in order to meet their simulation-based risk-evaluation needs.