6. What are the principles of agile methods? 27. What are the Components of a Strong Value Proposition?

What Is Kanban?

Kanban is an inventory control system used in just-in-time (JIT) manufacturing. It was developed by Taiichi Ohno, an industrial engineer at Toyota, and takes its name from the colored cards that track production and order new shipments of parts or materials as they run out. Kanban is a Japanese word that directly translates to "visual card", so the kanban system simply means to use visual cues to prompt the action needed to keep a process flowing.

What is a Kanban in project management?

Kanban is a project management tool that allows you to get a more visual overview of the tasks that either need to get done or are complete.
it consists of a physical or digital board with three columns (To Do, In Progress, Done)
following four benefits:

1. 
   Visualize your project workflow – get your team to be more focused through project transparency.
   
2. 
   Identify and remove bottlenecks – add work limits for in-progress columns to avoid overproduction and eliminate different kinds of waste throughout the project.
   
3. 
   Improve team collaboration – allow your team to make better estimates on lead time (the time it takes a feature request to be completed), ultimately improving the project’s success rate.
   
4. 
   Speed up your workflow – since transparency leads to a faster process and less work.
   

Kanban project management is a methodology in which a project's workflow is visualized and broken down into actionable pieces. Workers in a Kanban team are assigned tasks and focus solely on their own work.

41.Describe Budgeting and Cost Control

What Is a Budget?

The term budget refers to an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis. Budgets can be made for any entity that wants to spend money, including governments and businesses, along with people and households at any income level.
To manage your monthly expenses, prepare for life's unpredictable events, and be able to afford big-ticket items without going into debt, budgeting is important.

• 
  A budget is an estimation of revenue and expenses over a specified future period of time and is utilized by governments, businesses, and individuals at any income level.
  
• 
  A budget is basically a financial plan for a defined period, normally a year that is known to greatly enhance the success of any financial undertaking.
  
• 
  Corporate budgets are essential for operating at peak efficiency.