In recent years, organizations have been focused on becoming as efficient as possible. Despite the progress made through various forms of transformation, many enterprises still find themselves dealing with excessive amounts of waste. This waste results from overproduction, redundant projects, ineffective resource utilization, poor risk management, or a myriad of other activities that fail to generate an adequate return on investment. This waste directly impacts the bottom line and represents a significant issue.
Managing this waste, or even identifying where it is occurring, is made more difficult by the complex nature of modern business. Portfolios, programs, work items, teams, and individual resources must be managed across multiple business areas, functions, and work methods. Waste can occur in any of those areas, and without insight into what is happening, it inevitably will.
Organizations must do more than simply improve processes and cost cutting measures to eliminate wasted investments and redundant effort. Enterprises must take a more holistic approach that ensures that they have greater transparency and visibility into everything that is happening across all value streams to deliver value to customers. This approach must also ensure that the work being done, and the value generated by that work, aligns with the strategic objectives of the organization. And it must address shortcomings in capacity planning, risk mitigation, organizational velocity, prioritization, and even the culture of the enterprise.
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