Value Stream Models

Introduction

In today’s rapidly evolving business landscape, organisations are increasingly embracing value stream models to streamline operations and enhance overall efficiency. A value stream encapsulates the entire sequence of activities involved in delivering value to customers, encompassing all the steps and processes required to create and provide a product or service. However, a successful transition to a value stream model necessitates meticulous planning and execution. This is where Change Delivery Assurance assumes a crucial role. This article explores the advantages of Change Delivery Assurance in implementing a value stream model.

What is a Value Stream Model?

A value stream model represents a comprehensive depiction of how value is generated and delivered within an organisation. It encompasses all the activities, processes, and resources involved in transforming raw materials or inputs into a final product or service that fulfils customer requirements. The value stream model considers the entire value chain, from initial conception or design to the ultimate delivery and support of the product or service. By mapping out the value stream, organisations can identify and eliminate inefficiencies, optimise processes, and streamline the flow of value creation, leading to enhanced efficiency, cost reduction, and increased customer satisfaction.

What is Change Delivery Assurance?

Change Delivery Assurance constitutes a function within an organisation that ensures the successful execution of strategic initiatives and their intended outcomes. It incorporates various practices and processes that contribute to the effective and efficient implementation of changes. Through a structured approach to risk management, quality assurance, stakeholder engagement, and governance, this function identifies and mitigates risks, monitors progress, and ensures alignment with business objectives.

Benefits of Change Delivery Assurance in a Value Stream Model

Improve Risk Management

Change Delivery Assurance assumes a critical role in effectively identifying and mitigating risks associated with transitioning to a value stream model. By employing a structured risk management approach, supported by assurance practices, organisations can significantly diminish the likelihood of project failures and minimise the impact of unexpected events during the transition.

Enhance Process Efficiency

The implementation of a value stream model necessitates optimising end-to-end processes. Change Delivery Assurance enables a comprehensive evaluation of existing processes, enabling the detection of inefficiencies and bottlenecks. Through detailed analysis of the value stream, organisations can identify areas for improvement and implement measures to optimise processes. This optimisation drives improved productivity, waste reduction, and streamlined workflows throughout the value stream.

Accelerate Benefits Realisation

Change Delivery Assurance ensures the successful realisation of anticipated benefits during the transition to a value stream model. By leveraging assurance practices, organisations can monitor progress, validate outcomes, and make timely adjustments to maximise the value derived from the value stream model.

Effective Stakeholder Engagement

Transitioning to a value stream model entails significant organisational change, impacting various stakeholders. Change Delivery Assurance fosters proactive and meaningful stakeholder engagement throughout the transition process. Through the utilisation of assurance practices, organisations can ensure transparent communication, active involvement, and address stakeholder concerns. This promotes stakeholder support and alignment, thereby enhancing the likelihood of success.

Ensure Alignment with Business Objectives

Change Delivery Assurance guarantees alignment between the transition to a value stream model and the organisation’s strategic objectives. Regular assessment and readjustment of the value stream model enable organisation to remain in sync with evolving business goals. Assurance practices facilitate ongoing evaluation of the value stream model’s performance, enabling the identification of misalignments and the implementation of necessary adjustments.

Conclusion

Change Delivery Assurance assumes a critical role in successfully implementing a value stream model. Through effective risk management, enhanced process efficiency, accelerated benefits realisation, effective stakeholder engagement, and ensured alignment with business objectives, organisations can leverage Assurance practices to enhance their value stream initiatives. By adopting these practices, organisations can navigate the challenges associated with the transition and optimise their operations to achieve improved efficiency and overall performance.

Author:  Jacqueline Keane, Enterprise Portfolio Office Delivery Assurance Senior Manager, Bank of Ireland. (BA Hons Management – Adult Education and Training 2013, MSc. Management of Operations 2018)