Value Stream Mapping (VSM) is a method used in project management to look at the flow of materials, information, and activities that add value to a business process and figure out how to improve it. The main goal of VSM is to find places in a process where there is waste, inefficiency, or duplication and find ways to get rid of or reduce them.
Most of the time, the following steps are needed to make a value stream map:
- Set the start and end points for the project or process that needs to be mapped.
- Find the process’s key steps and the inputs, outputs, and activities that go with each step.
- Find out which parts of the process add value and which don’t, and put each step into the right category.
- Find any places in the process where there is waste, inefficiency, or duplication, such as overproduction, waiting, excess inventory, overprocessing, mistakes, unnecessary motion, or unused talent.
- Make a future state map that shows what changes or improvements could be made to the process to get rid of or reduce waste.
- Make an action plan with specific steps and dates for putting the changes shown on the future state map into place.
Value Stream Mapping is helpful in project management because it shows how the process works visually, which can help find places where it can be improved. By analysing the process and finding areas of waste and inefficiency, project managers can make changes to the process that can help streamline operations, cut costs, and improve overall performance. VSM is often used with other Lean methods, like Kaizen, to make sure that a process or project is always getting better.
Usage
Used in Lean Project Management
Reference
Refer to Value Stream Map
