VALUE STREAMS AND PROJECT MANAGEMENT

Abstract

This dissertation aims to apply value stream mapping for analyzing the effective way of executing projects that are utilizing the erstwhile project management methodologies. The stream analysis approach was used to analyze, diagnose, manage and propose process changes. A thorough literature review was carried out to understand the challenges faced by the project management, and generate an understanding of the possibility of application of value stream mapping to project management. The overall methodology involved application of value stream mapping to a company whose core business is providing scaffolding systems for projects related with protection, event based, rolling towers and ladders. Many of these projects have common features in terms of design and components, and they are all also characterized by a short “time to delivery”. A case study was chosen to study the bridging of gaps and exploitation of opportunities provided due to the challenges faced by the project in its execution using the conventional project management. To strengthen the VSM an attempt was made to generate a detailed process level view utilising metrics based process mapping. The focus of the study was to reduce the lead time and increase the process cycle efficiency. The results inferred using the future state value stream mapping view 1 and view 2 showed a satisfactory improvement in the lead time, utilisation of manpower and substantive reduction in the non value added time. The future course of action that may be adopted for further research has also been dwelled upon.