Value Stream Mapping:
On my previous post I was discussing Lean manufacturing techniques used for project management. Value streaming was one of the techniques I blogged about so I thought I would elaborate a little further.
Value Stream Mapping is drawing the value stream of the product or process; it is like process mapping. It is a tool to look at how value flows into and through a process to the customer, and how information flows facilitate the work flow. Apart from capturing this value flow, it is also used to capture process data on work-in-progress, processing time, processing unit, idle time, setup time, etc. It is also known as information and material flow mapping.
Value Stream Mapping helps to locate the wastes in the value chain. After the waste is identified, it is removed. A current state map can be created when the waste is identified. This leads to the creation of a future state map with a plan to eliminate the waste. The next logical step is to implement the plan. This means the value stream is restructured. This is a basic step towards Lean conversion. It is an effective method to develop an environment with a reduction in waste. It helps to streamline the work flow by reducing lead times and lessening excessive operating costs.
This link has some great templates you can deploy when you are implementing Value Stream Mapping for your organization