But first of all, what is Lean? Lean emphasizes the prevention of waste, extra time, labour or material spend that does not add value to a product or service. What is waste in business terms? Waste is anything that takes time, resources, effort or space but does not add value to the product or service delivered to the customer. There are 7 types of Waste that can be found in any business. They are labelled as Transport, Inventory, Motion, Waiting, Over Processing, Over Production and Defects. This is better known as TIM WOODS. TIM WOODS is an acronym for describing waste in a business. When Lean is implemented in a business, it will improve quality, eliminate waste, reduce lead time and reduce total costs. Your Project Goals will be completed on time, on budget and meet performance requirements. If you look at the diagram below you will see how waste can be defined by people, quantity, quality and the end result being, added Value.