The Wonders of Value Stream Mapping
Finding out what is important to your project is all about realizing its value to the project and the customer.
In this article we explore the value of teams perform a useful technique called Value Stream Mapping, in it we find out what value is, what a value stream is and how mapping value streams are important to uncover the value to a project, stakeholders and your customers.
What is value?
Value is what’s important to customers. What value is depends on your project and what you want it to achieve. However, your customers mostly because it’s what they appreciate and are willing to pay for. So, clearly we need to know what this is, and we need to know what value to deliver.
What is value streaming?
It is the activities, transactions, material and information flows required to deliver this value to your customer. A value stream is all the end-to-end process activities, resources, and information used to transform inputs into outputs that are salable to customers.
What is a value stream map?
A graphical visual representation of the value stream is called the value stream map.
Value Stream Maps shows all the steps involved in getting a product or service from supplier to customer. It shows the material and information flows from order to delivery.
How is it different from a process map?
Think of a value stream map as a type of high level process map showing the end-to-end process. Additionally however, it includes customer data, process data, and information flows particular to the value stream.
How to map a value stream
Walk the process and observe. Obtain estimates from people directly involved or get estimates from the collective experience of the project team.
The important thing is you get a sense for where value is added and where waste occurs.
|Photo by Nikita Kachanovsky on Unsplash|
Value stream mapping is a great visual for groups to collaborate on. It’s a bit more complex than some models to draw, so practice makes perfect!