The Process Specification Language or PSL, is a formal approach to process modelling which uses a built-in ontology. (ALY)
MichaelGruninger is currently leading the efforts at NIST and ISO on PSL standardization. He gave a talk to the Ontolog community on PSL's Principals and Applications at ConferenceCall_2004_09_16 (ALZ)
ChrisMenzel was involved in the early development of the PSL project (http://www.mel.nist.gov/psl). (AM0)
ConradBock provided an overview of PSL contrasting it with Flow Models at ConferenceCall_2005_01_27 (AM1)