V

validation [TVD]

The process whereby a delivery team verifies that the scope an owner wants can indeed be achieved within the allowable cost and time that owner has set.

(of) value

Something is “of value” to someone when it is appreciated by them. This may be expressed by saying “Thank You,” willingness to pay for it, offering something non-monetary in return, etc.

NOTE: In Choosing by Advantages, value is gauged by defining factors and criteria, correspondingly identifying advantages, and then assigning an importance to each advantage, expressed in [Importance of Advantage].

→ as opposed to values

Example: That has value for x which helps x achieve their purposes. In other words, ‘value’ is instrumental value, what Marx called ‘use value’, which can be extended to beauty as well as utility.

value added time (VAT) [VSM]

That (part of a) process step during which the product undergoes a transformation that is considered of value to the customer.

Value Stream Map(ping) (VSM)

Graphical representation of steps used to transform a product, showing value-added time (VA) and non-value-added time (NVA).

_{Reference: Rother and Shook (1998). Learning to See. Lean Enterprise Institute.}

values

Behavioral principles, rules for how people should behave. Expressed as conditions of satisfaction or constraints on the selection of ends and means.

→ as opposed to value

variability

The ability to vary; possible occurrence of variation in features (characteristics, attributes, parameters) of a product or process.

variation

Occurrence of non-uniformity.

Example: We saw a lot of variation in the tiles: some were much smoother than others.

VAT

→ see Value Added Time

vendor managed inventory (VMI)

→ see supplier managed inventory

Virtual First Run Study (VFRS)

An effort at prototyping, done using computer systems (virtual prototyping), conducted well in advance of the execution of the work being studied, in order to learn how it can be done in the best possible way.

virtual prototyping

Developing models in a computer system, such as a BIM, to study the design and production of a product or process.

visual workplace

A room or area where a lot of information is being displayed graphically for all to see, so everyone doing work will be appraised at a glance of the situation.

VMI, vendor managed inventory