A sequence of activities that create an overall result for a customer, stakeholder, or end user.
A value stream describes how an enterprise organizes its activities to create value. A key principle of value streams is that value is always defined from the perspective of the stakeholder – the customer, end user, or recipient of the product, service, or deliverable produced by the work.
Value streams are typically realized by business processes and possibly other core behavior elements. The stages in a value stream provide a framework for organizing and defining business processes, but different parts of the organization may have their own implementations of business processes that realize the same value stream stage. Conversely, one business process may realize multiple stages in a value stream.
It is recommended that the name of a value stream be expressed using a verb-noun construct in the active tense; e.g., “Acquire Insurance Product”.
