Interpreted differently by many in the Kanban community (some see these two terms as representing different things) but in simple terms it refers to how long a work item takes to go through the system or timebox.
An approach that focuses on improving processes by maximizing value through eliminating waste (such as wasted time and wasted effort).
Originally an approach to creating and managing start-up companies, but now applied to any business, to help them deliver products to customers quickly.
A report that documents any lessons that can be usefully applied to other projects. The purpose of the report is to provoke action so that the positive lessons from a project become embedded in the organization's way of working and the organization is able to avoid the negative lessons on future projects.
level of quality
The overall quality level of a product as defined by the project product description (customer's quality expectations and acceptance criteria).
L = λW
In simple terms – the average number of items in a system: L is equal to the average arrival rate, λ, multiplied by the average time an item spends in the system, W (assuming that this is over a long enough period of time and the system is stable).