Establish business model maintenance parameters

Trigger: Approval of a new or revised business model necessitates an ongoing governance and maintenance plan.

1. Identify business model components requiring periodic review
2. Define frequency and timelines for routine model evaluations
3. Establish procedures and criteria for triggering out-of-cycle updates
4. Assign roles and responsibilities for model monitoring and maintenance
5. Document and distribute maintenance parameters to governance stakeholders

Outcome: A formal maintenance schedule, complete with defined roles, review triggers, and update procedures, is established and communicated to stakeholders.