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BPM: The Promise and the Challenge (PDF)
Abstract: Is this promise being fulfilled? BPM does have the potential to deliver significant value, but there are missing elements that limit its effectiveness. Although BPM technologies are becoming more mature, many software developers and business analysts still find themselves asking the basics: What is it? And why should I care? This article provides a high-level overview of BPM and where it is today and touches on some of the core technologies and standards.

BPMI.org
The Business Process Management Initiative embraces existing standards where appropriate, working with complementary standards bodies such as the OMG, WfMC and OASIS.