Here the common steps that are involved in the life-cycle are listed out:
Model: Acquiring the business processes at the top level, making sure that the top level detail is correct without being distracted by the details of how it is going to be implemented.
Execute: Instances of the process are launched and interacted with by the end users.
Monitor: Measure the key performance indicators and process performances to understand where the inefficiencies in the process are.
Optimize: Improve the business process and performance by reducing the inefficiencies identified during monitoring. Determine which changes will deliver the maximum benefit.   _{Your Comment}