Value Stream Mapping

"Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives, whether positive or negative) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/ or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. ... Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.

The strategies to manage threats (uncertainties with negative consequences) typically include transferring the threat to another party, avoiding the threat, reducing the negative effect or probability of the threat, or even accepting some or all of the potential or actual consequences of a particular threat, and the opposites for opportunities (uncertain future states with benefits)." [Risk management. Wikipedia]
The concept map example "Risk management" was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Concept Maps solution from the area "What is a Diagram" of ConceptDraw Solution Park.

"Value Stream Mapping (VSM):
– Special type of flow chart that uses symbols known as "the language of Lean" to depict and improve the flow of inventory information. ...
Value Stream Mapping ...
Provide optimum value to the customer through a complete value creation process with minimum waste in:
– Design (concept to customer);
– Design (concept to customer);
– Build (order to delivery);
– Sustain (in-use through life cycle to service)." [courses.washington.edu/ ie337/ Value_ Stream_ Mapping.pdf]
This sample Value Stream Map shows how customer value is created in the steps of manufacturing, production control, and shipping processes.
This VSM example was created using the ConceptDraw PRO diagramming and vector drawing software extended with the Value Stream Mapping solution from the Quality area of ConceptDraw Solution Park.