Manly Beach, December 2nd, 2005. A research paper by Dr. Michael zur Muehlen (Stevens Institute of Technology) and Prof. Michael Rosemann (Queensland University of Technology) on the integration of operational and technical risk into business process models won the Best Paper Award at the 16th Australasian Conference on Information Systems (ACIS 2005). The paper entitled “Integrating Risk in Business Process Models”was chosen from 262 papers accepted at the annual conference held in Sydney, Australia, between November 30th and December 2nd, 2005.
“The consideration of risk factors in the design of enterprise processes is more relevant today than it has ever been” said Dr. zur Muehlen, who heads the Center for Business Process Innovation at the Howe School of Technology Management. “Public companies are required to document their compliance with legislature such as the Sarbanes-Oxley Act, HIPAA, OSHA, or FDA and EPA regulations. While a lot of money is being spent on documenting current risk management and control practices, organizations will soon have to rethink their process structures and control procedures. Our approach can help them focus on the cost efficiency of their risk response activities, and help them choose the most efficient and effective process design.”
Prof. Rosemann and Dr. zur Muehlen are longstanding collaborators in the areas of Business Process Management and Information Modeling. They participate in joint research projects sponsored by the Australian Research Council and SAP Research, R&D subsidiary of German software manufacturer SAP. Both the Center of Excellence in Business Process Innovation at Stevens and the Centre for Information Technology Innovation at Queensland University of Technology conduct research exchange programs and participate in joint case studies. As part of this collaboration, Prof. Rosemann will visit Stevens Institute of Technology in February 2006, when both he and Dr. zur Muehlen will present current results of their joint projects.