Time period

Time is one of the highest level concepts in our scheme, as in most ontologies.  Obvious order-of-magnitude levels of time granularity that are relevant in measuring business processes are shown.

In addition to activity measurement, we emphasize that events have temporal dimension.  Some of these are discrete, or finite (ATM transaction start time), while others are fairly indefinite (new product idea).

Figure 19

Time periods indicate the initiation and termination of business events.  They also determine the frequency of occurrence of events.  Actions are delimited by time periods, which forms the basis for the ability to simulate business processes.  Inventory management is enabled by relationships of time periods to physical resources.