Certain example embodiments relate to algorithmic and/or programmatic approaches to identifying service candidates from among business process functions. In certain example embodiments, a method of analyzing functions of a business process model for possible exposure as service capabilities in a service-oriented business process system (SO-BPS) is provided. A business process model defined by a plurality of objects is received, with each said object having metadata attributes associated therewith. Business process analysis intelligence is obtained at design time for each said object. Process performance intelligence at run time is obtained for each said object. Indicators corresponding to the design time and run time gathered intelligence are stored together with the metadata attributes for the corresponding object. Via at least one processor of the SO-BPS, an overall service candidate algorithm is applied to the stored indicators to arrive at a total service eligibility value for each process function in the model.