Since business process modeling is considered as the foundation of Business Process Management, it is required to design understandable and modifiable process models used to analyze and improve depicted business processes. Therefore, this article proposes a method for business process model analysis and improvement. The lifecycle of Business Process Management from business process modeling to applying the Business Intelligence and process mining techniques is considered. Existing approaches to business process model analysis are reviewed. Proposed method is based on best practices in business process modeling, process model metrics, and corresponding thresholds. The usage of business process model metrics and thresholds to formalize process modeling guidelines is outlined, as well as the procedure of business process model analysis and improvement is shown. The application of Business Intelligence techniques to support the proposed method is demonstrated.