Design science is an emerging research paradigm in the Information Systems area. A design science project typically includes the activities of problem analysis, requirements definition, artifact development, and evaluation. These activities are not to be seen as sequential but can be carried out in any order. The purpose of this paper is to propose a conceptualization and formalization of design science research that show the possible ways in which a design science project can be carried out. The proposal is based on the state oriented view on business processes and suggests that design science research can be viewed as movements in a space of situations, problems and solutions.