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The Science of Kanban – Economics

This is the fourth part of a write-up of a talk I gave at a number of conferences last year. The previous post was about the science of process Having a good understanding of how creative people can have an efficient process still isn’t enough however. As Russell Ackoff is often quoted as saying, “It’s better to do the right …

Defining the Last Responsible Moment

I was involved in a recent twitter discussion with Chris Matts about Lean’s “Last Responsible Moment”, and he set a challenge to come up with a usable definition. Chris’s opinion is that there isn’t one, compared to the Real Options equivalent. This then, is my response to that challenge. I will define the Last Responsible Moment (LRM) in terms of …