Glossary
Business value: generally any initiative or goal that fulfills a near-term or long-term need of the business
Bet: A relatively small, hypothesis-driven initiative that may serve to create value toward a larger organizational goal .
Compliance: ensuring your organization adheres to the law as well as industry regulations, legally binding contracts etc.
Continuous Deployment: an automated testing and deployment process that releases code changes directly to a production environment for customers to consume.
Cost of delay: quantifies the impact of time on outcomes, typically expressed as potential revenue lost when a delayed product or service cannot be consumed by customers.
Customer experience: the series of touchpoints that occur between a business and a customer.
Customer time-to-value: the duration between when a customer purchases and when they can actually realize the value of the product.
Customer value: one way to think of customer value is that when your product or service leads to a customer feeling more empowered, less stressed or more capable, then you’ve created customer value.
Delay time: the amount of time spent between two processes.
DevOps: a diverse set of principles and practices intended to improve overall software development flow and quality.
Governance: a form of steering that articulates responsibilities, accountabilities, and authority and empowerment.
Incremental: generally a new edition or version of something already in process.
Lean value tree: a visual representation of an organizations vision, goals, objectives etc rendered in a tree format.
Legacy systems: long-standing software/hardware systems that may not be compatible with newer software/hardware systems
MVP: minimum viable product - the smallest increment of a new product that can be deployed to test assumptions about problem/solution fit
Net present value: the difference between what a product or service is currently worth and what it is costing to sustain the product or service.
Principle of optionality: mitigates uncertainty by testing a range of possible solutions without committing to any particular solution
Process time: the duration of time that elapses between when a task enters a process and leave the process
Product/market fit: the point at which a product not only solves a problem, but can also scale in terms of sales and adoption.
Product/solution fit: the point at which a nascent product has proven to solve a real customer problem.
Thin-slice: an initiative that is narrow in scope, but requires deep organizational integration, commitment and participation to succeed.
Value stream: An extended value stream includes those activities that precede a customer order (e.g., responding to a request for a quote, determining market needs, developing new products, etc.) or occur following the delivery of a good or service to a customer (e.g., billing and processing payments or submitting required compliance reports).
Last modified 1yr ago