Key Concepts of Value Stream Mapping and Management

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Aspect	Value chain	Value stream	Process
What it is	The operating model: the interconnected set of eight activities	One specific end-to-end path through those activities for a particular product or service	A defined set of steps used within activities
Scope	Generic, organization-wide operating core	Situation-specific, one particular demand or scenario	A reusable component of work inside activities
Reused or one-off	Reusable core, arranged differently per situation	Assembled anew for each demand	Reused wherever those steps are needed
Delivers value to a consumer?	Defines how value is created and delivered in general	Yes: it is the flow that creates and delivers the value	No on its own: it is a building block within a stream

Cheat sheet

A value stream is the series of steps an organization undertakes to create and deliver a product or service to a consumer.
A value stream combines the eight value chain (lifecycle) activities into a specific path for a specific scenario.
A value stream is one specific path through the value chain, not the value chain itself and not a process.
A core value stream delivers products and services directly to an external consumer.
An enabling value stream delivers value to internal recipients so they can support the core value streams.
Core value streams serve external consumers directly; enabling value streams serve internal recipients to support the core.
Value stream mapping is the technique of visually documenting the steps and flow of a value stream.
Value stream management is the ongoing practice of governing and optimizing value streams.
Mapping produces a point-in-time picture; management is the continuous optimization built on it.
Complexity thinking recognizes that work sits in different contexts, each needing a different approach.
Complexity thinking distinguishes ordered, complex, and chaotic contexts.
Complexity thinking guides how much to standardize versus experiment.

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Cheat sheet