A value stream is a high-level representation that maps out the interrelationships between different processes or business units. This can help provide an overview of how the entire process works by linking smaller processes together. Think of a value stream as a process of processes.
On the surface value streams and processes may seem similar, they even allow you to add activities, tasks, notes and gateways. Value streams provide an overview of multiple processes or business units connected to form an overarching process. It is essentially a bird's eye view on contextual information rather than isolated data points. With this, it becomes easier for organisations to identify bottlenecks and uncover opportunities for innovation.
In the value stream above there are multiple processes that are interconnected, but each is important in its own right. Without stock being counted and food ordered, there would be nothing to cook and serve. By looking from a bird's eye view, it is possible to see how the components fit together to ensure success.
Differences in Value Streams
The creation of a value stream is the same as the creation of a process. You will notice that the screens there are a few subtle differences.
In both processes and value streams you are able to add an existing process directly into the map using the process link button. However, in a value stream you can create a process from scratch by creating the link first and then creating the process itself.
Having these two options accommodates the different approaches to problem solving. You may like to start with a high-level view and then complete the finer details, or you may prefer to gather smaller bits of information together and amalgamate them into a bigger picture.
Value streams also allow progress to be set on process links using the set progress feature. You can find out more on how to set the progress on a value stream here.
There is no option to create a future state or view the time and cost analysis features on a value stream.