Chapter 4: Defining Value Stream Management

1. Value Stream Management (VSM) is fundamentally about implementing Lean concepts within an organization and making the Lean development and delivery processes a way of life.
2. Materials and information flow mapping. The significance is that the identification and management of information flows are every bit as important as material flows across a Lean value stream.
3. Lean value always flows downstream towards the customer, and any preceding activity is upstream.
4. The same concept applies across each value stream. The activities furthest from the customer are always considered upstream from those that are performed closest to the customer.
5. True. Value streams include all value-creating and non-value-creating that an organization includes when bringing a product from concept to launch.
6. "An end-to-end collection of activities that creates a result for a 'customer,' who may be the ultimate customer or an internal...